In three short months, legal mobile sports betting has contributed tens of millions of dollars to education and other good causes in the state of New York.
Numbers recently published show the following:
- The eight New York sportsbooks contributed $58.3 million in taxes to the state in March, 2022 alone – some 51% of the $114.3 million won by the sportsbooks.
- March Madness saw betting grow 7.2% month on month to $1.683 billion.
- FanDuel is the dominant sports betting operator, with a handle of $673,056,881 and revenue of $58,322,575. The betting icon contributed around $29.5 million in taxes to the state in March.
- DraftKings is the sportsbook with the second largest handle, with a 27.1% share. This is in comparison to FanDuel’s 44.1%.
- Both Caesars and BetMGM are in the running for third in handle.
In the meantime, one licensee needs to join the scene in New York, namely Bally Bet. The group is waiting until its 2.0 platform is ready to launch and hopes that it will happen this month.
After Bally Bet joins, there are no more licenses available to distribute, although the gambling authorities have not ruled out the possibility of adding more licensees next year.
All in all, New York has proven that it was more than ripe to see online sports betting become part of its gambling landscape.