New York Sees $1.5B Handle In Second Month Of Mobile Betting

• New York launched their mobile sportsbooks in early January; since then, New York has turned over handles of $1 billion or more in both months after the mobile launch.
• New York’s streak of $1B+ handles looks like it should continue through March, a historically strong sports betting month for most markets as a result of March Madness betting.

ALBANY, N.Y. – New York’s sportsbooks pulled in over $1 billion in mobile sports betting handle for their second consecutive month in two months of total activity, according to a weekly report released by the New York Gaming Commission.

NY Handles Over $1 Billion In Wagers In Each Of First Two Months

Online sportsbooks in New York launched in the second week of January and New York’s sportsbooks handled over $1.68 billion in wagers for over $123 million in revenue.

The sportsbooks were able to maintain their momentum in February, turning over $1,490,924,932 in bets.

The nearly $1.5 billion in handle was good for about $80.5 million in sports betting revenue, with a little over $41 million of that number going into New York’s coffers.

While New York’s sports betting financial figures for February are down compared to the slightly-shortened January, that was to be expected. The NFL playoffs were at their peak in January when mobile betting launched and the Super Bowl concluded in the first week of February.

A Third Consecutive $1 Billion Month Would Put NY In Elite Company

New York’s hot streak is likely to continue at least through March, as the month (buoyed by March Madness betting) is historically strong for most markets.

Take neighboring New Jersey for example: in February 2021, sportsbooks in New Jersey handled around $743 million in wagers. In March, that number shot up to about $860 million, a nearly 14% increase.

By April, New Jersey’s handle figure fell back to equilibrium, with sportsbooks turning over about $748 million in wagers.

With March’s historical strength for sportsbooks, it is highly likely that New York’s sportsbooks maintain – or even increase – their level of financial production.

That would make three consecutive months of $1 billion handles – something that would put them in elite company, as only Nevada (October-December 2021) and New Jersey (September 2021-January 2022) have recorded three or more consecutive months with over $1 billion in sports betting handle.

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