New York Crushes Daily Sports Betting Average

When the mobile sports betting windows opened in New York on January 8, 2022, the expectations were high that New York sports bettors would do something amazing. The numbers from the first two weeks of mobile sports betting in New York are in, and bettors managed to exceed even the highest of expectations.

On January 8th, DraftKings, Caesars Sportsbook, Rush Street Interactive (BetRivers), and Fanduel all started taking mobile sports wagers. As betting picked up momentum, it became clear that the launch of mobile sports betting in New York was going to be a boon for NY bookmakers and the state that gets 51% of the gross sports betting revenue.

Initial reports have pegged the handle from January 8 to January 16 at $603 million. That’s a mind-boggling number considering it only included nine days of sports betting activity. It also only included one week of the NFL regular season and the Wild Card week of the NFL playoffs. By the time the dust settles for the month of January, the state could well exceed $1 billion in hand over only three weeks of action. At this point, there should be little doubt New York is in the process of overtaking both New Jersey and Nevada as the top sports betting states in the U.S.

A look at the daily average points squarely at how amazing these numbers really are. According to analysts at PlayNY, New York mobile bookmakers took in an average of $67 million a day in sports bet over the nine days in question. That crushes the $41.9 million a day taken in by the state of New Jersey in October of 2021. As a point of reference, October was a record-breaking month for the state of New Jersey, taking in well over $1.0 billion in sports bets.

As a result of the huge handle, mobile bookmakers were able to generate $48.2 million in gross revenue. That comes out to a hold of almost 8%, which is a pretty healthy number, an indication that mobile sportsbooks had a good few days. For the state of New York, that puts $24.6 million in the state’s coffers.

Leading the way in gross revenue was Caesars Sportsbook at $22.7 million while Fanduel and DraftKings came in at $14.1 million and $10.9 million respectively.

As of January 21, 2022, BetMGM was able to start taking mobile bets. That’s five of the original nine mobile sportsbooks already licensed with the other four licenses pending approval.

If there was any bad news for New York’s mobile bookmakers, it came when the Buffalo Bills were defeated by the Kansas City Chiefs in overtime in an AFC playoff matchup. Had the Bills made it to the Super Bowl, it would have been hard to fathom just how much betting action would have come in on the Bills. As it stands, there is a good chance New York’s Super Bowl action with far exceed anything that has ever been recorded in the past.