Online sportsbooks in New York have seen $15,159,150,238 in wagers since their launch back in January 2022. What makes this milestone all the more impressive is that New York did so in less than a full year of NY online sports betting being active. NY eclipsed all other markets with betting in 2022 and is poised to continue this rain going forward.
NY Historic Betting Run
The Empire State released its November 2022 revenue report which $1,032,597,867 was wagered during the month. During the first full week of December, $342,577,737 was bet though December 11. This is what pushed NY to the $15 billion total handle mark. Bettors in the Big Apple have been consistent in wagering weekly.
NY has seen on average over $300 million wagered weekly from online sports betting since its launch. In fact, NY has been on a recent streak of over $300 million wagered every week since the week ending on September 19. This strong stretch of constant wagers has propelled New York’s total market.
The strong betting numbers have led to a lot of sports betting revenue as well. For the week ending on December 11, online sportsbooks reported $44,494,620 in revenue. NY takes a 51% tax cut on online sportsbooks revenue leaving over $22 million for the state. Both revenue and betting handle numbers in New York have been impressive.
Which Sportsbook Reigns Supreme
FanDuel sits as the number one sportsbook in the Big Apple. Over $6 billion in bets were wagered on the mobile FanDuel app in NY since its launch. DraftKings follows as second with $4.2 billion and Caesars Sportsbook rounds the top three with $2.6 billion.
Caesars sat as the top sportsbook in NY during the first few weeks of the market. A decrease in promotional spending on Caesars’ part saw them decline in popularity and see FanDuel and DraftKings overtake it.
All online sportsbooks in New York should be pleased with their numbers in the market, however. New York is by far the largest sports betting state in terms of the sheer volume of bets. There is no sign that any other market will see comparable success with California failing to pass betting legislation in 2022.
For now, New York remains king of betting.