NY betting revenue hits $1.9m in January

New York’s sports betting revenue bounced back in January.

According to figures from the New York State Gaming Commission, the four commercial casinos that offer sports betting in the state of New York generated $1.9m in revenue, up from the $780,418 generated in December.

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

Breaking down the figures

Looking closer at the figures, Rush Street’s Rivers Casino and Resort in Schenectady generated $778,997 in sports betting revenue making it the highest performing sportsbook in the state.

The DraftKings-branded sportsbook at del Lago Resort and Casino was the second-highest performing venue in January after generating $610,250 in revenue from sports betting. January’s figures represented an 82% increase on the $335,283 del Lago generated in December.

The International Game Technology and Betgenius-powered sportsbook at Resorts World Catskills generated $395,659 in revenue marking a significant increase on the $65,236 posted in December.

The FanDuel-branded sportsbook located at Tioga Downs was the lowest-performing sportsbook in the state of New York after generating $158,445 in sports betting revenue.

Still no mobile betting

Sports betting in New York is still limited to land-based sportsbooks at four upstate casinos.

In late January, Governor Andrew Cuomo outlined New York’s state budget for the 2020-21 fiscal year which made slight amendments to sports betting restrictions in the state but left the ban on mobile sports betting unchanged.

This marks the second consecutive year that Cuomo has left mobile sports wagering out of the state’s budget.

Nearby states such as New Jersey and Pennsylvania allow state-wide mobile and online sports betting and as a result of this, both states now have incredibly successful sports betting markets. In both states, the majority of sports wagers are placed via online platforms. In Pennsylvania, mobile sports wagering helped push 2019’s total betting handle past $1bn,  accounting for 70% of total handle. State-wide online and mobile betting could help the state’s betting market realise its full potential.

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.

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.

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