Everyone in the sports betting industry has been talking about the previously untapped betting market of New York. Allowing residents to place bets on their own phones, would radically change the landscape. Previously, a resident could place a bet only by driving hundreds of miles to a retail sportsbook. During this time, the sports betting numbers were quite paltry. But since the New York online sports betting market was launched in January, New Yorkers have placed a whopping $1.1 billion in online wagers in just three weeks.
The $1.1 billion online handle in its first three weeks is something that many in the pay per head sportsbook industry are not surprised with. After all, those who have the best software for an online sportsbook enjoy a wide variety of players across the country. New Yorkers have always been into sports betting, but the state has delayed allowing online betting to be legalized. In effect, the state has lost the opportunity, over the past two years, to earn from tax revenues from what is now clearly a billion-dollar industry.
New York Online Betting: Breaking Records
New York’s online betting launch shatters the previous record of Arizona with the highest opening betting handle in the country. The numbers do not even include the last week of January, so we expect to see higher numbers when we get the final report of sports betting in New York for January. But the handle so far is nothing short of amazing, as other states took years to even hit the handle that the state made in just three weeks.
This places New York in the map as one of the largest sports betting states in the US. It can probably even surpass the large markets of Nevada and New Jersey. Keep in mind that we are not even past two of the biggest betting events of the year. February will bring us the NFL playoffs and the Super Bowl. Meanwhile, March Madness will follow in the month after. For more updates on US betting markets, make sure to check with the best sportsbook PPH blog regularly.
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