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1st Anniversary of Mobile Sports Betting in New York State! What does it bring to the Empire State?

Wetron Empire State gambling

1st Anniversary of Mobile Sports Betting in New York State! What does it bring to the Empire State?

Since the U.S. Supreme Court abolished the PASPA Act in 2018, in just a few years, state governments in the United States have respectively legalized sports betting, opening a new era of vigorous development in the industry. On January 8, 2022, New York State legalized mobile sports betting. According to statistics, it has contributed as much as US$709.2 million in taxes to the state since its opening, and the licensing fees paid by major sports betting operators have reached as much as $200 million U.S. dollars.

• Initially 4 mobile sports betting operators were authorized

In 2022, the New York State Gaming Commission (NYSGC) announced that a total of 4 sports betting operators have passed the regulatory standards, and officially provided mobile sports betting services to New York State on January 8. It began to accept player bets, including FanDuel, Rush Street Interactive, DraftKings, and Caesar. Afterwards, other operators also passed successively, and a total of 9 operators joined the mobile sports betting market in New York State.

• New York State continues to break records for mobile sports betting

According to statistics, since the opening of the market in January 2022, more than 3.8 million user accounts in New York State have been created. In December, nine online sports betting operators processed a total of US$1.62 billion in wagers, an increase of 4.5% and the best performance since March of that year.

• FanDuel Leads New York State Sports Betting Market

New York State has issued a total of 9 legal operator licenses, among which FanDuel leads the pack in both market share and revenue share. Following closely behind are DraftKings, Caesars, and BetMGM, and the top four operators have a total market share of 93.3% and revenue share of 96%.

• Taxation of sports betting from society for society

The taxes collected are taken from society and given back to society. This is mainly used to fund youth sports programs, problem gambling education, and educational assistance.

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