New York Reports State’s Numbers From Sports Betting’s Opening Weekend
Photo by Gary Hershorn/Getty Images. Pictured: Statue of Liberty, New York
New York launched online sports betting on January 8 and the results were as big as one could imagine.
There was $150 million bet on sports on the first weekend that four mobile sports books went live. The information was revealed on late Monday with the presentation of the Governor’s 2023 state budget briefing book.
How big is the $150 million weekend? Well, it’s possible given those numbers — and the fact that it is corresponding with the highly bet on NFL postseason –New York could do at least $500 million in handle in its first mobile month.
That number would have them battling Colorado already for the state with the fifth-highest handle. The only states that would be ahead of New York? New Jersey, Nevada, Pennsylvania and Illinois.
Four sportsbooks — FanDuel, DraftKings, Caesars and BetRivers — launched Jan. 8. BetMGM joined the fray on Jan. 17.
Four more sportsbooks have secured licenses and are scheduled to come online: PointsBet, Resorts World, BallyBet and WynnBET. Gov. Kathy Hochuli said she’s interested in talking about expediting an additional three licenses.
Geocomply, the preeminent geolocation tracking company, said in a release published Tuesday that 1.2 million accounts were created in New York, with 878,000 being unique bettors.
There was a narrative that New Jersey was greatly boosted by New Yorkers having to cross the state border to place legal bets. Would the leading state take a hit with the recent legalization?
Geocomply said that early indications are that New Jersey wasn’t hurt badly. Of the new accounts set up in New York, 87.7% of the accounts were set up by people that are new to regulated sports betting and only 9.3% of New York bettors were shown to previously have placed bets in New Jersey.
As expected, most people are looking at promotions and downloading just one app. Geocomply said that the New Yorkers who bet averaged 1.3 accounts per player, which is in line with the national average. New bettors don’t tend to price shop and start off with depositing their money into a brand that they are most comfortable with.
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