With just two land-based sportsbooks, New York’s sports betting market is off to a steady start.
According to figures published by the New York State Gaming Commission (NYSGC), commercial sportsbooks in the state generated a combined revenue of $349,468 in the first 16 days of sports betting.
The NYSGC reports do not display sports wagering handle or hold percentage.
Looking closer at the figures
There are currently just two commercial casinos that offer sports betting in New York.
Rush Street Gaming’s Rivers Casino & Resort in Schenectady, which launched sports betting on 16 July, generated $294,249 in revenue.
More sportsbooks coming to NY
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.
The Oneida Indian Nation also plans to launch sports betting operations at its Yellow Brick Road Casino later this summer.
Two more commercial casinos are also planning to offer sports wagering in the coming months. The Del Lago Resort in Waterloo will open a DraftKings branded sportsbook, while Resorts World Catskills’ sportsbook will be powered by Bet365.
While the addition of more sportsbooks will have a positive impact on sports betting revenue, without online sports betting, New York will not realize the full potential of its sports betting industry.
No mobile betting in NY
New York’s 2019 legislative session closed without a vote on proposed online sports betting legislation. This marked the second year in a row where New York failed to legalize online sports betting.
In the meantime, the NYSGC has commissioned a study which will look at all forms of gambling across the state, including sports betting. Lawmakers are hoping that this study will provide evidence that there is a large enough market for sports betting in the Empire State.
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. In Pennsylvania’s second full month of online sports betting, online wagers amounted to $39m.
NY’s journey to legal betting
Six years ago, the state of New York legalized land-based sports wagering through the 2013 New York Economic Gaming Act. The law allowed four upstate casinos in New York to offer sports betting if the federal law prohibiting the activity was amended or overturned.
After the Professional and Amateur Sports Protection Act (PASPA) was struck down in 2018, lawmakers began work on bringing sports betting to New York. The state officially launched sports betting on 16 July 2019.
For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.