New York sports betting revenue drops in October

New York’s sports betting market had a tough October.

According to figures from the New York State Gaming Commission (NYSGC), New York’s sportsbooks generated $2.2m in revenue in October.

October’s sports betting figures marked a 4.4% decrease on the $2.3m sportsbooks generated in September.

Since sports betting went live in the Empire State in July, sportsbook operators have generated a combined total of $5.7m in revenue.

It’s important to remember that the NYSGC reports do not display sports wagering handle.

Breaking down the figures

The sportsbook at Rivers Casino & Resort Schenectady continued to lead the market in October after generating just over $1m in revenue.

The DraftKings Sportsbook at the del Lago Resort and Casino remained in second place in October after generating $572,410 in revenue. While the sportsbook remained in second place, revenue saw a dramatic drop from $836,929 in September.

The sportsbook at Resorts World Catskills generated $506,380 in revenue in October, up from the $381,210 generated in September.

The FanDuel Sportsbook at Tioga Downs generated $152,696 in revenue in October, marking a 6% decline from the $161,384 generated the month prior.

Sports betting in New York is still restricted to land-based commercial sportsbooks as lawmakers have yet to approve online and mobile betting. Without online and mobile wagering, New York is unlikely to realize the full potential of its sports betting market. In New Jersey, more than 80% of sports wagers are placed via online and mobile devices.

Sports betting in New York

Six years ago, the Empire State legalized land-based sports wagering through the 2013 New York Economic Gaming Act. The passage of this law allowed four upstate casinos in New York to offer sports betting if the federal law prohibiting the activity was amended or overturned.

New York officially launched legal and regulated sports betting in July, with the opening of the sportsbook at the Rivers Casino & Resort in Schenectady. A FanDuel branded sportsbook at Tioga Downs and the DraftKings Sportsbook at Del Lago opened shortly after sports betting in New York went live.

Several tribal casinos also offer sports betting in the state. In early August, two tribal casinos in New York also launched sports betting. The Oneida Indian Nation, in partnership with Caesars Entertainment, launched sports wagering at Turning Stone Casino in Verona and at Point Place Casino in Bridgeport.

Last week, Kambi and the Seneca Gaming Corporation (SGC) announced a deal that will see Kambi supply three Seneca-owned venues with sportsbook technology. Once the deal receives regulatory approval, bettors will have three new legal options for sports betting in New York.

For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.

 

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