New York mobile sports betting rises 8% in May
New York has now passed the $1 billion mark in tax revenue for all time. Only two other states, New Jersey and Nevada, have reached that amount in taxes from sports betting, though not all of it via online sports betting.
When the market first opened, the New York State Gaming Commission (NYSGC) approved the ten-year licenses for nine sportsbooks: DraftKings, Caesars Sportsbook, Wynn Interactive, Genting, Rush Street Interactive, PointsBet, BetMGM, Bally’s and Fanduel.
FanDuel easily outpaced the No. 2 app, Draft Kings, which brought in $567.3 million, a fact the website attributed to FanDuel’s early adoption of parlay bets.
In those wagers, bettors can combine two aspects of a game, such as the overall points in a football game along with the point spreads for the winner.
These bets are harder to win but have proven popular with wagering sports fans. Sports bettors wagered more than $16 billion during the first full year that mobile sports betting was allowed.