New York Sports Betting Handle Almost Hits $5 Billion Since Launch
New York may be late in the game, but it sure is making up for lost time. Since the launch of online sports betting in the state back in January 8, the New York sports betting handle is just a few thousand shy of the $5 billion dollar mark. This tops any new gambling software news features as it shows us just how large the sports betting market is for online betting. Not all states in the country offer online sports betting, and they should definitely look to New York for inspiration.
For the longest time, New York has been dallying on sports betting, citing research, and legal conflicts that prevent sports betting from going full blast in the state. But becoming an online bookie is very profitable, and the state, with less than 10 sportsbooks, are raking in billions in wagers. The state clearly realized this, as they included online sports betting in a huge economic-centered bill last year. Now, New York sportsbooks have taken in $4.994 billion as of the first week of April. Most likely, the numbers have already passed the $5 billion mark, which we will see in the state’s gambling commission’s next gambling report.
New York Sports Betting
In-person sports betting has been legal in the state since 2019, but only in the state’s tribal casinos upstate. This meant that for New Yorkers to place wagers, they would have to drive hours to these casinos to bet on sports. It was actually easier to cross over to New Jersey, place bets, and return back. So, allowing mobile sports betting has been a welcome option to millions of residents in the state.
The betting handle is also expected to increase in the coming weeks due to basketball betting, as well as with baseball betting. The NBA will be reaching the playoffs soon, and the MLB’s regular season is now finally underway. While the Knicks are not in the playoffs, interest in the NBA is still popular. In addition, the state’s teams in the MLB, such as the American League’s Yankees and the National League’s Mets, will be getting a lot of action in sportsbooks across New York.