NY State Revenues from Sports Gambling Tops $2.9 Billion – Yonkers Times

FanDuel online sportsbook APP in #1 in New York State

By Dan Murphy

Mobile Sports betting in New York State has been a success, with more than $33.7 Billion in total wagers being placed since NYS Government approved it in late 2022. And revenues for NYS have totalled $2.9 Billion over the two year period from wagers placed on sports, according to reports from the NYS Gaming Commission.

Anyone over the age of 21 can join download the sports app of one of nine sports betting companies approved in New York. FanDuel has been the most successful, with $13.5 Billion in wagers being placed on their App over two years.

Draftkings was second, with $10.5 Billion, Ceasars at $4.7 Billion, and BetMGM at 2.4 Billion. All of the other approved sports betting companies combined totalled under $2 Billion.

In January of 2022, the first month of legal sports betting in New York State, a total of $1.6 Billion in wagers were placed. One year later, (Jan. 2023) that number rose to $1.8 Billion, and passed the $2 Billion per month mark in October and November of 2023.

New Jerseys sports bets have outpaced New York States, with $44 Billion during the same time period. New Jersey has the highest dollar amount of wagers over the past two years, even more than Nevada, who is third in the country, with $36.8 Billion. Pennsylvania is 5th with $25.6 Billion, and Connecticut is 17th, at $3.4 Billion.

Sports betting experts say that New Yorks first two years of permitting bets and collecting tax revenues have been impressive, and some believe that New York State will overtake Nevada and New Jersey by the end of 2025.

Most wagers are placed online, but can also be placed at most casinos in New York. Sports betting has been legal in NY casinos since 2013, but has exploded since mobile Apps, and advertising from companies like FanDuel and Draftkins, began in January of 2022.

A sports betting casino in New York Citys Times Square, and an ESPN sports betting APP, are also said to be under consideration.

The BetMGM Sportsbook app, is connected to the companys Empire City Casino at MGM Resorts in Yonkers. The BetMGM Sportsbook app allows bettors a variety of options, bonus offers and ease of use, including an Edit MY Bet Feature, which allows you to add, change and drop bets for games already in play.

MGM recently released its vision for an upgraded and expanded MGM Empire City in Yonkers, if the company is granted a full-scale commercial casino license by the state. The next frontier of online gambling will be the legalization of online gaming, or igaming in New York State.

A group called BetonNY.com has begun their campaign to inform New Yorkers about the tax revenue possibliltiies in the Governor and State legislature approve iGaming, which has already been approved in New Jersey and Pennsylvania.

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NY State Revenues from Sports Gambling Tops $2.9 Billion - Yonkers Times