New York’s online sports betting revenue reached an all-time high in January, surpassing the previous record set in December. Official data revealed that licensed sportsbooks in the state generated a total sports betting gross gaming revenue (GGR) of $211.5 million. This figure exceeded the previous month’s revenue of $188.3 million, indicating the continued growth and potential of the New York betting industry.
While the sports betting handle fell just short of reaching $2 billion, with a total of $1.96 billion in bets, there was still an impressive 11.5% year-on-year increase from January 2023. Despite not reaching the $2 billion mark, the overall results are considered positive for the state’s sports betting industry.
FanDuel maintained its position as the market leader in New York, with a handle of $867.1 million and GGR of $109.2 million. This marked the highest figure ever reported by a single operator in the state. DraftKings followed closely behind with a total of $664.8 million in bets and GGR of $71 million, while Caesars Sportsbook rounded up the top three with a handle of $198 million and revenue of $13.6 million.
The push for the legalization of online casino gaming and online lotteries in New York continues, as Senator Joseph Addabbo introduced a new iGaming bill in the state. The bill, which includes provisions for online lotteries, has received an amendment and was recommitted to the New York Senate Racing, Gaming, and Wagering Committee. However, Downstate casino licensing in the state is expected to be further delayed.
Overall, the continued growth and record-breaking revenue in New York’s sports betting industry, coupled with ongoing efforts to expand the gambling industry, showcase the state’s dedication to creating a thriving gaming market.