New York tops $1 billion in sports wagering revenue

Finance News

The New York State Gaming Commission reported sports wagering handle totaling $1.12 billion, with all but $5.4 million originating from mobile operators.

Sports gamblers in NY bet more than $1.1 billion in August, a 27.5% year-over-year increase from the $872 million in August 2022. Online sportsbooks in NY reported more than $98.5 million in revenue for the month, which was a 1.1% decline from the $99.6 million last year.

Since the legalization of sports betting in New York in January 2022, the state has experienced a boom. In 16 months, they have surpassed the $25 billion mark, setting a record for the fastest time to reach that figure.

This success went far ahead of the previous record set by New Jersey, which took nearly 47 months to reach a similar level. Nevada is still the only other state that is comparable to New York in this aspect.