If the first thirty days of New York’s fledgling mobile sports betting industry are anything to go by, things are looking very promising. Reports show that New Yorkers wagered around $2 billion over the course of the month since the Empire State launched its legal online sports betting market.
New York launched its market on January 6th, and numbers were recorded until February 6th by the state’s Gaming Commission.
Key figures from the report show:
– $600 million was wagered on football.
– $540 million was wagered on basketball
– $80 million was wagered on ice hockey.
– Gross gaming revenue for the first 30 days reached $138.5 million.
– $70.6 million in tax revenue was generated for the state due to its 51% tax rate.
– 187 million transactions were made during the period.
New York Beats New Jersey’s Record
New York has now beaten the US monthly handle record for the first 23 days of legalization in a state. The last record was held by New Jersey when it launched in October 2021 and consumers wagered $1.30 billion.
Consumers in New York wagered $1.63 billion in the first 23 days, in comparison.
“Over the past month, we’ve seen how mobile sports wagering can be an economic engine for New York, driving significant funding to our schools, youth sports, and so much more,” said NY governor Kathy Hochu. “As this new industry continues to grow, New York will make sure we have the resources and guidelines in place to make it a success for all.”
BetMGM, in collaboration with the Casino del Mar at La Concha Resort, has announced the launch of the first legalized sports betting service in Puerto Rico.
The launch coincides with the Super Bowl that is taking place on Sunday, 13th February and BetMGM is now in a position to accept wagers through 12 kiosks and 5 betting windows at the resort, which is located in the island’s capital city of San Juan.
Adam Greenblatt, the Chief Executive Officer at BetMGM, commented on the launch by saying that this is a monumental day for BetMGM as it marks the launch of their first operation outside of the US mainland. He added that Casino del Mar delivers exceptional guest experiences and is an ideal partner as they look to extend their brand in Puerto Rico.
The betting operator also intends launching its mobile betting app in Puerto Rico, while a full-scale retail sportsbook is due to launch at La Concha Resort later this year.
Sigfrido de Jesus, General Manager at Casino del Mar, said they are very excited to kick off sports betting at Casino del Mar through this important strategic alliance with BetMGM.
De Jesus also said that in Puerto Rico, there is a wide base of sports fans who will now add the possibility of becoming winners to the excitement of their favorite sports games and matches.
BetMGM was created in April 2018 and currently operates in 18 states across the United States;
La Concha Resort houses the always-open Casino del Mar that features slots as well as table games such as poker, roulette, blackjack and craps.
According to the American Gaming Association, a mind-boggling 17.6 million people placed a bet on Sunday’s Super Bowl game – either in person at a sportsbook or online.
More than half the states in the US now allow some form of legal sports betting, and the pastime is made even easier in states where wager on sports via mobile devices is allowed.
This fact has driven massive advertising campaigns targeting millions of sports fans who were glued to their screens in the fateful match between the Cincinnati Bengals and the Los Angeles Rams. The gambling industry spent $488 million on advertising between November 2020 and November the following year.
By 2025, it is estimated that sports betting will be a $37 billion industry, and those numbers are expected to grow even more as more states allow legal and regulated sports betting.
At present, more than thirty states (and Washington DC) have active betting markets. At least three more will launch their own markets in the coming months.
Many companies are jostling to grab a piece of this very lucrative pie and are extraordinary amounts to do so. Caesars sportsbook, for example, announced that it would be spending $1 billion on marketing and acquisitions, and rival groups are expected to follow suit.
FanDuel, a Flutter Entertainment owned operator has revealed that it has launched a new sportsbook in Washington State which is located at the Suquamish Clearwater Casino Resort.
The new 2,086 square foot sportsbook consists of three live betting windows and twelve IGT PlaySports self-service betting kiosks. NFL legends Jim Zorn and Steve Largent were present at the opening of the sportsbook, placing the first wagers at the venue.
FanDuel first entered into a partnership with the Suquamish Tribe in September of last year, enabling the operator to gain access to the Washington market.
Rion Ramirez, Chief Executive Officer of Port Madison Enterprises, the business arm of the Suquamish Tribe, commented that they are excited to have formed a partnership with FanDuel, America’s number one sportsbook, and be their exclusive partner in Washington State.
Ramirez went on to say that the joint effort between the Suquamish Tribal Commission, the Washington State Gambling Commission, FanDuel and a number of their employees made this all possible and they are thrilled that their sportsbook is now open.
Keith Wall, Vice President of retail at FanDuel, said that this has been a special project for them because it has allowed them to expand their retail footprint to the west coast.
He added that the Suquamish Tribe has been an amazing partner throughout the process and Suquamish Clearwater Casino Resort is an amazing property that everyone needs to visit for the stunning views, world class entertainment and now legal sportsbetting.
Washington has now become the 14th state within which FanDuel has launched, following states that include New York, Arizona, Michigan and New Jersey.
A new Arizona Senate Bill will see an increase in the number of sports betting licenses available in the Grand Canyon State with only Arizona’s tribal nations eligible to apply.
The legislation (SB 1674) was recently introduced by Democrat Sen. Sally Ann Gonzales in the Arizona Senate. This would enable any of Arizona’s 23 federally recognized tribes with a valid tribal state gaming compact to apply for a license to operate retail as well as mobile sports betting off reservation.
Ten of the states 23 federally recognized tribes are currently licensed for mobile sports betting only by the Arizona Department of Gaming. Twenty sports betting licenses are available in the state with half of those designated for Arizona’s tribes. The ten non tribal licenses allow for retail as well as mobile sports betting.
The Senator’s bill would allow tribes with a valid tribal state gaming compact to offer mobile sports betting and also operate retail sports betting outside of tribal lands.
Tribes may currently offer retail sports betting on their tribal lands which may limit their earning potential. However if SB 1674 becomes law, tribes will be allowed to open retail sportsbooks on non tribal land within five blocks of the state’s major sports stadiums.
The entire off-reservation retail sports betting locations would fall under the jurisdiction of the Arizona Department of Gaming. Retail locations on tribal land are already allowed without approval of the state’s regulators.
Sports betting in Arizona went live on 9th September 2021, coinciding with the start of the NFL season.