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New York reported a total sports betting handle of US$16.2 billion in 2022, setting a new record for a US state.
Confirmed:
- US$1.62 billion of bets were placed in December
- Sportsbooks delivered US$1.4 billion in gross revenue
- New York received US$693 million in tax revenue from sports gambling in 2022
- In total the state generated US$1.36 billion in gross gaming revenue (GGR) throughout the year
Context:
Online betting was legalised in New York in January 2022, with the US$1.67 billion of bets placed during the first month setting a record for any US state.
When the market first opened, the New York State Gaming Commission (NYSGC) approved the ten-year licenses for nine sportsbooks: DraftKings, Caesars Sportsbook, Wynn Interactive, Genting, Rush Street Interactive, PointsBet, BetMGM, Bally’s and Fanduel.
Coming next:
One year on from the legalisation of sports betting in New York, the state looks set to continue to establish itself as the largest gambling markets in the US outside of Nevada. Since 2018, 36 states have legalised sports wagering, with Ohio becoming the latest online this month.
