New York Mobile Sports Betting Breaks One-Month Handle Record In Three Weeks

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New York mobile sports bettors wagered about $1.6 billion from January 8 — the day online betting launched in the state — through the last day of the month, according to a report released by the New York State Gaming Commission, setting a one-month handle record for a legal sports betting state. The previous record was $1.3 billion, set in New Jersey in October 2021.

For more perspective, January’s handle numbers from New York are more than twice the $777 million Arizona bettors wagered in September and October 2021 combined, per CBS News reported. 

New York mobile sports betting handle breaks New Jersey and Arizona handle records in record time

There are a few reasons New York mobile sports betting handle is so high. New York is the largest state by population to legalize sports betting, with about 19.5 million people in-state. New York’s financial markets likely cross-trained finance professionals, who applied their prediction skills to mobile sportsbooks. 

Also, New Yorkers are experienced sports bettors. The state’s residents had been crossing New Jersey’s border to place mobile sports bets for more than three years. Many New York bettors have been gambling for years, even decades, with illegal bookies and offshore accounts.  

New York Mobile Sports Betting Estimated Taxes

New York sportsbook operators held (won) about $113 million of the $1.7 billion wagered in January, or about 6.95%. The state takes 51% of that revenue in taxes. So for the month of January, New York sportsbooks owe more than $57 million in taxes. 

Legal New York mobile sports betting market is just getting started, and it has not yet experienced the Super Bowl, March Madness, or an entire NFL season. These numbers will continue to explode.

These early figures are eye-popping. But New York bettors could shatter even more records during the Super Bowl and March Madness. 

About the Author

Christopher Gerlacher

Writer and Contributor
Christopher Gerlacher is a senior author and contributor for Gaming Today. He's a devout Broncos fan, for better or for worse, living in the foothills of Arvada, Colorado.

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