Bettors in New York have set an incredible new record with more than $ 2 billion wagered via online and mobile platforms during October 2023, according to American Betting Apps.
The total of $2.01bn is the highest ever for a state that has legalized sports betting and allowed mobile betting since January 2022. What’s more, the figure for October dwarfed the total for the same month last year and was actually 30.5% ahead of the $1.54bn spent in 2022. The $2bn was even 14.2% up on September’s total of $1.76bn.
There was also an increase in monthly revenue, with New York recording a new high of $166.3m in October, up from the previous record of $165.5m which was set in September, and the $145.7m reported for the same time last year.
FanDuel currently comes out on top of all the operators in the New York market. It posted $891.9m in online bets with $83.1m coming from this in revenue.
DraftKings was again second with Caesars third in the standings. While the former recorded revenue of $59.3m from $652.3m, the latter reported a total of $193.2m with $10.9m in revenue.
BET MGM had a handle of $107.6m with $7.2m in revenue while Rush Street Interactive recorded $3.3m of revenue from $114.2m. PointsBet was next on the list, recording $27.6m and a revenue total of $1.3m.
New York made history with a further $894,039 revenue generated by Resorts World Bet from a total of $7.7m recorded in wagers. Wynn Interactive boosted the amount also with $313,362 in revenue from a total of $12.3m.
Major Casino Plans Supported
The history-making month is expected to be given a further boost with plans for a new Hard Rock Casino.
The state’s betting markets could soon benefit from a new establishment after New York Mets owner Steve Cohen unveiled plans for a casino at Citi Field with Hard Rock International. The seismic proposal would see an $8bn Metropolitan Park Complex built across 50 acres surrounding the ballpark in Queens which is currently parking lot space.
The casino would also boast a separate sportsbook site and be situated with a Hard Rock hotel. The plans have been formalized and developed since Cohen acquired the Mets three years ago and also include a food hall, music venue, tailgate park, and 20 acres of new parking.
More than 89% of people consulted during 15 community workshops and over 20,000 door-to-door conversations have backed the proposed move and signed a petition in support of the development.
Mobile Gambling in New York
These plans at CitiField have perhaps been welcomed due to a lack of land-based, physical casinos in New York which in turn shows why online and mobile wagers have proved so popular that the state has recorded a total of $2bn in October.
New York City is the most densely populated in America while the state of New York is only behind California, Texas, and Florida when it comes to population. With more than 19 million people living there, that’s a gigantic number of people who have the opportunity to place wagers in just a few clicks of a smartphone or tablet whether on the move or sitting in the comfort of their own home.
With such accessibility and ease to wager on a mobile, it has never been easier to play games or back to different sports teams anytime, anywhere.
The massive revenue being recorded is also benefiting the state with the $474.4m generated revenue since April being put towards education across the state.
Overall, with more people gambling and such revenue being put back into the state, it is likely more and more revenue streams will be created in order to generate more through online and mobile gaming.
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