MLB Leads Total New York Betting Handle As State Sees Over $13 Billion
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The New York sports betting market rolled out on January 8th, 2022. The launch of legal sports betting was anticipated for quite some time, and now all of the top sports betting sites are available in the area.
The wagering industry in the state is preparing to celebrate its first anniversary soon, and while the total numbrs for the year will be fascinating to look at, the totals thus far have some interesting details as well. Let’s take a look at the numbers behind New York sports betting so far, as well as an in-depth look at what sporting events bettors put their money on.
New York Sports Betting Sees $13 Billion Handle Since Launch
The Empire State rolled out legal sports betting in January of 2022. Since then, numerous online sports betting apps have become available in the area. Thanks to a major population in the state and plenty of sports fans, the overall New York sports betting handle since rollout has hit $13.3 billion according to Elite Sports NY.
To put that in perspective, Arizona sports betting has seen a total handle of approximately $5.4 billion since launching last September, while Pennsylvania has around $16.5 billion in total handle since rolling out in 2019.
The biggest handle for New York sports betting came during the month of January, with a total of $1.68 billion. March was close behind at $1.64 billion, likely due in part to the popularity of March Madness.
The lowest total since online sports wagering became available came in July of 2022, with approximately $8 billion in betting handle. With the return of the NFL, September of 2022 saw the largest monthly revenue with $145 million.
Since its January launch, New York online sports betting has reported the following totals:
Handle: $13.3 billion
Gross Gaming Revenue: $1.1 billion
Online sports betting tax revenue: $561.4 million
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MLB Is The Most-Wagered On New York Sport
Since the rollout of New York sports betting, MLB has been the top sport that fans have wagered on. Pro baseball saw a total of $2.6 billion in New York bets, which makes some sense when you consider the New York Mets and New York Yankees had successful regular seasons and made the postseason. Right behind baseball was the NBA, which saw a $2.5 billion handle since launch.
The NFL has seen a total of $1.3 billion while college football saw $406 million from New York sports bettors. Both of those numbers will be interesting to see after the full yearly report comes around, as a full season should see a huge jump in football betting.
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An Overview of New York Sports Betting
There are currently nine different online sports betting apps available in the state of New York. Some of the go-to options for sports bettors have been DraftKings Sportsbook NY, Caesars Sportsbook NY, BetRivers Sportsbook NY, FanDuel Sportsbook NY, PointsBet Sportsbook NY, and BetMGM Sportsbook NY. Add in WynnBET Sportsbook, Bally Bet Sportsbook, and Resorts World, and the state has plenty of options for sports bettors to choose from. The success of NY sports betting might have additional consequences as well, with the possibility of New York online casinos becoming available in the future.
