NY Reports Record Sports Betting Month

New York State has officially beaten its previous record for largest sports betting handle recorded in a single month. For October, the New York State Gaming Commission reported that the four commercial casinos in the state managed to accumulate US$25.56 million in sports wagers for the month. This is a significant increase with 47.3% more than September’s results.

However, despite the increase of sports betting handle in October, revenue for the casinos did drop by almost the same percentage. For October, the total revenue from sports wagering is US$1.719 million, which is 46.1% lower than last month’s results. In September the non-tribal casinos recorded US$3.19 million in such revenue.

Substantial Growth

Each and every one of the four commercial casinos in the state recorded their largest monthly sports betting handle during October. Rivers Casino & Resort Schenectady leads the statistics with US$11.9 in total sports wagers placed last month. The amount was substantially higher than last month’s results as it is 49.6% higher than September’s previous record of US$7.96 million.

Then at the number two spot for largest sports betting wagering handle goes to del Lago Resort & Casino. The Waterloo property managed to collect a handle in the amount of US$7.49 million. Resorts World Catskills generated the third-largest handle with US$3.92 million and last place goes to Tioga Downs in Nichols with US$2.24 million in sports betting volume.

When it comes to revenue generated from sports betting Rivers Casino & Resort Schenectady again tops the charts in October with US$949,784. Then at second place is again to del Lago Resort & Casino which managed to bag US$503,241. Third place is again for Resorts World Catskills US$222,437 in sports betting income and Tioga Downs fourth with just US$43,152.

For the month of October, the total gross gaming revenue from the state’s non-tribal casinos, including other types of gambling, such as table games, poker, slots, and electronic tables amounts to US$60.5 million. The amount is slightly lower than the September number where they generated US$60.7 million. Resorts World collected most gross gaming revenue with US$19.6 million.

Mobile Sports Betting to Start Soon

Sports betting in New York is enjoying quite the interest from gamblers, but the state is yet to introduce it in an online form. However, the New York State Gaming Commission is slowly but surely advancing the initiative, recently the regulator announced that it will be issuing nine operator licenses for the expansion. The operators are Bally Bet, BetMGM, DraftKings Sportsbook, and FanDuel, as well as Kambi, Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, WynnBET.

One More Expansion

The state’s gambling industry could soon see one more expansion, as New York State Restaurant Association considers the introduction of sports wagers at bars and restaurants. In fact, the association is already working on the matter, as it informed that it has a written agreement with Elys Game Technology Corp. to provide an infrastructure and policy framework on how the new addition will function.

Source: Thornton, Evan “New York Sportsbooks Handle Record Breaking $25m In October”, USA Online Sportsbooks, November 17, 2021

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Author:

Yolina has followed closely the latest development on the Canadian gaming scene over the past years, monitoring the land-based, lottery, and online offerings up for grabs. The dynamic nature of the local lottery and casino fields, as well as the opportunities lying ahead of Canada fire her enthusiasm for what is to come. A sports betting enthusiast, in her spare time Yolina could be found in her natural habitat – turning the pages of biographies and catching up on the latest stand-up comedy podcasts.