New York takes less than a month to smash US monthly betting handle record

New York surpassed the all-time US monthly record for sports betting handle during the first 23 days of legal online wagering in the state, after consumers staked a total of $1.63bn.

The total beat the $1.30bn monthly record set in New Jersey in October of last year by some distance. Amounts wagered in the first 16 days of legal online betting alone had reached $1.18bn.

The New York State Gaming Commission also reported that gross gaming revenue for the 23-day period from 8 to 30 January amounted to $113.0m.

The reporting period included figures from Caesars Sportsbook, FanDuel, DraftKings and Rush Street Interactive, all of which began operations on opening day in New York, as well as BetMGM, which went live on January 17, and PointsBet from January 25.

Caesars Sportsbook established a strong early lead, processing $615.5m in bets during the first 23 days of legalization, posting $55.9m in revenue.

Flutter Entertainment-owned FanDuel was second with $501.8m as a handle and $23.6m in revenue, followed by DraftKings with a $367.7m handle and $27.1m in revenue.

BetMGM took $78.1m in wagers and turned $3.2m in revenue, while Rush Street Interactive was next with a $32.4m handle and $847,035 in revenue.

PointsBet, which only went live towards the end of the period on January 25, processed $32.4m in wagers and posted $2.3m in revenue.

The New York State Gaming Commission continues to publish weekly updates on its newly regulated market.

The market looks set for further growth after it was announced that WynnBet, the online sports betting and casino brand of Wynn Resorts, launched its online sports wagering platform in the state of New York.

Players in New York can download the official WynnBet app to their mobile device or place bets via the WynnBet website.

Author: Raymond Fleming