New York Online Sports Betting Handle Needed Just 16 Days To Surpass $1 Billion

Written By Derek Helling on February 2, 2022
16 Days To Pass 1 Billion On New York Online Sports Betting

It’s a sum that Dr. Evil of “Austin Powers” lore sought after with nefarious schemes. New York online betting didn’t have to build time machines, hijack nuclear missiles, or build a lair inside a volcano to get to $1 billion, though.

Through just the first 16 days of active wagering, New Yorkers and visitors to the state have plopped down over $1 billion on legal sports bets online. It points to the launch of online legal sports betting in NY being the most impressive performance of any US gambling market at any time.

$1 billion in just 16 days for New York online betting

According to the NY State Gaming Commission, NY online sportsbooks took $1.175 billion in wagers from Jan. 8-23. That’s near twice the $600 million operators handled in the first nine days of wagering.

A few factors likely led to the furious growth since Jan. 16. The four AFC and NFC divisional playoff games provided the fodder for those who had not yet signed up for any of the five sportsbooks to use those promotional deals on. A cont
inued barrage of advertising kept bettors’ awareness levels high.

The biggest benefactor from that marketing was Caesars, which accounted for over $487.3 million in handle from Jan. 8-23. FanDuel raked in more than $360 million. DraftKings came next with over $265.5 million.

Bringing up the rear were BetMGM at $40.6 million and BetRivers at $22.2 million. It should be noted that BetMGM didn’t go live in NY until Jan. 17, though.

We’ll have to wait to see exactly how much of an impact PointsBet, the state’s sixth online sportsbook, is going to have. The latest revenue report did not include it as it did not go live in NY until Jan. 25. That’s one reason why we might see a new record soon.

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The greatest month in US online gambling history?

Last October, bettors in New Jersey wagered a record $1.3 billion on sporting events on that state’s legal sports betting apps. Now, some of those same people could be part of setting a new record. They’ll do so without having to cross a state line, too, as many NY residents likely contributed to that record in NJ.

With a sixth operator offering fresh bonuses and both NFL conference championship games to finish out the month’s sports schedule, there’s a strong chance that New York online sports betting handle for January 2022 could surpass that $1.3 billion record. PointsBet is giving new customers in NY two free bets worth up to $2,000.

Wagering on the AFC and NFC championship games would just have to help the market produce over $125 million in the final eight days of the month. Since New Yorkers averaged betting over $73.4 million per day through the first 16 days, that seems completely feasible.

Surpassing $1.3 billion in wagers would be remarkable enough in a full month, but the fact that New York may do it in only 24 days would be even more impressive. Probably even more impressive than sharks with frickin’ laser beams attached to their heads.

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Derek Helling

Derek Helling is the assistant managing editor of Playin USA. Helling focuses on breaking news, including legislation and litigation in the gaming industry. He enjoys reading hundreds of pages of a gambling bill or lawsuit for his audience. Helling completed his journalism degree at the University of Iowa.

View all posts by Derek Helling