New York’s Online Sports Betting Revenues Soar to Record High in January

New York’s online sports betting industry continues to shatter revenue records month after month, with January marking another unprecedented achievement. Official data revealed that licensed sportsbooks in the state recorded a total sports betting GGR of $211.5 million. This figure surpasses December’s previous record of $188.3 million, indicating that the New York betting sector is still on the rise.

Although the sports betting handle failed to reach the $2 billion mark, falling just short at $1.96 billion, it still represented an 11.5% year-on-year increase from January 2023. While this figure interrupts New York’s streak of $2 billion monthly handles, the overall results are still positive.

FanDuel maintained its position as the market leader, with a handle of $867.1 million and a GGR of $109.2 million. This marked the highest figure ever reported by a single operator in the state. DraftKings followed with a total of $664.8 million in bets, resulting in GGR of $71 million, and Caesars Sportsbook rounded out the top three with a handle of $198 million and revenue of $13.6 million.

New York is also aiming to expand its gambling industry, with Senator Joseph Addabbo introducing a new iGaming bill that would legalize online casino gaming and online lotteries in the state. The bill has recently received an amendment and was recommitted to the New York Senate Racing, Gaming and Wagering Committee.

Additionally, news has surfaced that the Downstate casino licensing in New York will be further delayed. Despite these delays, the state’s online sports betting market continues to thrive, setting new records and showing promise for the future of the industry.