The ball is rolling on mobile sports betting in New York State following the Gaming Commission’s announcement last week that four of the nine licensed operators have been approved to start taking bets. They started last Saturday, just in time for playoffs and the Super Bowl, and New York has already hit record highs.
On the first weekend, there were more than eight million bets, deposits and withdrawal transactions in the city alone, according to cyber security company GeoComply. That generated $3.7 million in tax revenue, more than the state made in two years of in-person sports betting. The state saw more mobile wagers than any other market ever had on its first day.
Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive satisfied all requirements necessary to begin the wagering activity, the commission announced in a press release last week. They offered incentives like $100 registration bonuses and doubled earnings if the Knicks scored a point last weekend.
The remaining five conditionally licensed operators, Resorts World, BetMGM, PointsBet, WynnBet and Bally Bet, will be approved on a rolling basis.
State Sen. Joe Addabbo Jr. (D-Howard Beach) chairs the Committee on Racing, Gaming and Wagering and has been a vocal proponent of mobile betting in New York.
“We knew we were coming in late to the game with mobile sports betting as other states like New Jersey, Connecticut and Pennsylvania already had their programs up and running, some for two years,” Addabbo said in a statement.
“But to see how quickly New York shot to the top of the list for the number of bets taken proves that our people were ready to embrace mobile sports betting in their home state. And with five additional operators close to being approved to go live, I hope we can continue to capitalize on this historic start and experience a growth in revenue, educational funding, jobs, and new resources for gaming addiction and youth sports.”
Addabbo said in-state betting will help safely monitor the activity and address addiction thanks to better regulation.