New York Sets Record-Breaking $2 Billion Sports Betting Month

This October, New York has set a significant record in the US sports betting market, being the first state since the repeal of The Professional and Amateur Sports Protection Act (PASPA) to exceed $2 billion in monthly bets. The New York State Gaming Commission reported a handle of $2.006 billion from eight mobile operators. Retail sportsbooks are expected to add another $10-15 million to this figure.

The NFL season, particularly the October 29th game between the New York Jets and Giants, played a key role in this achievement. New York’s current record surpasses its own previous high of $1.8 billion set in January. This success is notable as both months featured five Sundays, but the October handle benefited from an extra week of NFL games.

Revenue figures are equally impressive. The state’s total mobile betting revenue for October was $166.3 million, a mere $506,000 shy of the September record. This revenue generated $84.8 million in state taxes and brought the year’s total to $688.8 million. The cumulative mobile handle has now surpassed $31 billion, with operator revenues hitting $1.35 billion.

FanDuel led the pack in October, accounting for 44.4% of the total mobile handle with bets totaling $891.9 million. DraftKings followed with $652.3 million. BetRivers doubled its previous record with $114.2 million in accepted wagers. BetMGM, Caesars, and Resorts World also contributed significantly, while PointsBet and Bally Bet had relatively lower performances.

This landmark achievement positions New York as a major player in the US sports betting landscape, trailing only behind New Jersey and Nevada, both of which have exceeded $30 billion in lifetime handle since the 2018 PASPA repeal. PASPA, enacted in 1992, prohibited sports betting in the U.S. but was overturned in 2018, allowing states to legalize it.