New York sports betting has been circulating the news more of late as online betting was finally approved. However, New York continues to lose out every month that it is not available to the public. While they did approve, the details and regulations still need to be figured out. Reports have come out that they want it up and running by the start of football season, but it would likely start at some point during the season. After the usual February dip, March didn’t exactly. The next few months could be very limited as retail casinos are currently the only way to wager, and it is in question if NBA/MLB/NHL will be enough.
It was an up and down month for some of the casinos, which does cause some concern for the rest of the year’s outlook. Tioga Downs saw a drop from $156,397 to $122,877 in the month of March from February. This was with the anticipated boost of March Madness, but that didn’t seem to matter much in New York. More money came over to New Jersey from New York because of the limited betting options. del Lago saw an increase, going up from $376,118 to $697,147 in March. The casino has continued to lead and should be able to hold steady numbers moving forward.
Rivers Casino nearly doubled its February numbers, bringing in $821,649 in revenue. This is got them close to around when NFL was in full force, but April is looming with no playoff basketball or hockey yet. Resorts World saw a slight increase jumping from $157,098 to $204,010. Rivers and del Lago continue to dominate in revenue.
Mobile Betting Effect
New Jersey has been reaping the benefits of New York not having online sports betting. That will change, but when is still to be determined. Because of the single-operator system that was jammed into the budget, it might take longer to decide who will get to run the market. The casino market is going to be up in the air for a while until details are figured out. Once mobile betting does emerge, the state can begin to take advantage of the revenue. Sports betting will likely see a decline at the casinos given they are located upstate, and everything will be able to be done online.