The state’s mobile sports betting market began in January this year, and despite its young age, it has already transformed itself into one of the largest markets in the United States. Currently, the state has authorized nine operators to provide products in its jurisdiction. FanDual, DraftKings, Caesars Sports Book, Bet Rivers, Point Bet, Bet MGM, WinBET, Resort WorldBET, and Bali.
According to the most recent report by the New York State Game Commission, weekly processing for the week ended June 26, 2022 was $218.904,606. Of the $218 million, FanDuel was able to accommodate nearly half of it with a $11537,195 bet. That’s almost twice as much as the second-place DraftKings cost $52 million.
FanDuel has been leading the way in the steering wheel category over the past 22 weeks. The last time it failed to take the chart lead was the week Caesars Sportsbook recovered US$229.7 million on January 23, 2022. Since the market began, FanDuel has generated a total of more than $3 billion in sales, which has led to a total of more than $270 million in game sales.
For the week ended June 26, 2022, eight online sportsbooks totaled $218 million in processing. FanDuel and DraftKings accumulated two of the biggest bags, and Caesars Sportsbook ranked third with $3,064,983 in handling and $2,249,101 in total game revenue. BetMGM ranked fourth with a handling of $1,9558,938 and a GGR of $1,284,962.
Fifth place was placed at US$5,285,712 in bets handled over the week with BetRivers, of which $323,274 was recorded as total gaming revenue by the app. PointsBet then placed sixth with US$3,415,137 and GGR$414,115. The last two seats were won by Winbet and Resort World BET with US$1,589,467 and $1,526,765 on the handle, respectively.
Meanwhile, New York is still waiting for the launch of its last ninth operator, Bally Bet. In January, the operator refused to launch it in the state because it was not willing to price it higher than colleagues throwing cash for welcome bonuses. In May, SportsBook shared that it aims to launch Q2 2022. However, even after this deadline, the company says it will happen soon.
A Study on the New Problem Gambling Commission
And because of the increase in gambling access, New York lawmakers along with Sen. Joseph Adabo is considering launching a problem gambling advisory committee. Once passed, the committee will consist of 13 members and will develop and recommend strategies to ensure the availability of problematic gambling programs and resources in the state.