New York’s January Handle Sets Monthly Sports Betting Record in Just 23 Days
Nathaniel S. Butler/NBAE via Getty Images. Pictured: RJ Barrett #9 of the New York Knicks during a game against the Atlanta Hawks.
Well, that didn’t take long.
New York is now the record holder for monthly sports betting handle after the New York State Gaming Commission released numbers Friday that showed $1.62 billion was bet in January.
That beats the $1.3 billion record handle that New Jersey had in November — and it happened with mobile sports betting in place for only 23 days.
New York took a long time to get to online sports betting, starting with four operators — DraftKings, FanDuel, Caesars and BetRivers — on January 8. Two more operators — PointsBet and BetMGM — entered in January, while WynnBet began taking bets on Friday.
And when the opportunity presented itself, New York bettors didn’t disappoint. For the week of Jan. 23, $572.5 million was bet on sports. To put that in perspective, only four other states — Nevada, New Jersey, Pennsylvania, Illinois — have ever done that amount in a month.
To put things in further perspective, more money was bet on sports that week in New York than what was bet at New York retail casinos for the last 10 months of 2021 ($544 million).
The state of New York received $112.9 million, which represents the agreed-to 51% of gross gaming revenue from the operators.
Boosted by an initial $3,000 deposit match, Caesars leads in New York in market share with 37.9 percent of the market. FanDuel is at 30.9 percent, while DraftKings is third at 22.6 percent. The bottom three with less than five percent of the market are BetMGM, BetRivers and PointsBet.