New York leads US mobile sports betting with $2.4 billion

New York leads US mobile sports betting with $2.4 billion

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Written by Phoebe

Published date · Feb. 25, 2022 | Last Updated · Dec. 14, 2022 | Read Time: 3 mins

Approximately $4.3 billion was wagered on the Super Bowl last year. U.S. bets are estimated to have exceeded $7 billion this year. New Yorkers can be sure not to miss any action with the latest news about mobile sports betting in New York.  In 2013, New York's commercial casinos legalized sports betting. In July 2019, the first in-person sportsbooks opened, more than a year after the federal ban on sports betting ended. New Yorkers wagered $2.4 billion on sports through mobile gaming apps in January, making it the country's betting capital of the United States.

New York Sports Betting Revenues per Sportsbooks

Handle
Revenue
Hold
Taxes
Caesars
$627,401,761
$58,985,112
9.40%
$30,082,407
FanDuel
$517,492,498
$28,089,392
5.40%
$14,325,590
DraftKings
$377,952,846
$29,582,503
7.80%
$15,087,076
BetMGM
$82,204,532
$3,847,998
4.70%
$1,962,479
BetRivers
$33,465,116
$1,072,328
3.20%
$546,887
PointsBet
$31,202,281
$2,561,623
8.20%
$1,306,428
Rivers Casino
$7,360,773
$81,508
1.10%
$8,151
del Lago
$4,551,924
($755,006)
-16.60%
($75,501)
Resorts World
$2,984,261
($240,340)
-8.10%
($24,034)
Tioga Dows
$1,647,906
($94,991)
-5.80%
($9,499)
Total
$1,686,263,898
$123,130,127
7.30%
$63,209,984

There are now 30 states that allow sports betting, including 19 that allow online sports betting. More than 100 million Americans can legally place bets where they live. In January, New York State will bring in $58 million in tax revenue, or over 50% of $121 million in gross gaming revenue generated by mobile sportsbooks. New York has the highest tax rate among mobile sportsbooks, and gamblers wagered a total of $150 million in the first weekend. Within 15 days, they broke the $1 billion mark. Recent results show that New York's program has topped Las Vegas. In December, all sportsbooks combined took in more than $600 million, of which 70% came from mobile bets. According to the Nevada Gaming Control Board, Nevada sportsbooks recorded $1 billion in wagers for three months in a row.