New York mobile sports betting handle hits $1.3B in September

Finance News

Gamblers wagered over $1.26 billion on sports through mobile gaming apps in New York in January, according to a report by New York State Gaming Commission, beating the record for monthly handle set by New Jersey in September. 

New York State will bring in about $58 million in tax revenue for September, or a whopping 51% of $121 million in gross gaming revenue generated by mobile sportsbooks. New York has one of the highest tax rates in the mobile sports betting. 

The state’s much anticipated mobile sports betting market launched on January 8. Gamblers wagered a total of $150 million during the first weekend and broke the $1 billion threshold within 15 days.