New York Hits Record $2.32 Billion in Sports Betting for October

New York’s mobile sports betting industry reached new heights in October, recording a staggering $2.32 billion in wagers. The New York State Gaming Commission shared these results, marking a milestone for the state’s sports betting handle.

October Surpasses Previous Records

Although New York has hit the $2 billion mark before, October’s results set a new record. Compared to last October, the handle rose by more than $300 million. October’s handle also outpaced September’s by almost $250 million, showcasing sustained interest and growth in mobile sports betting within the state.

While the handle surged, October’s gross gaming revenue (GGR) reached $176.4 million, falling short of September’s GGR by over $25 million. However, October’s GGR still reflected a $10 million year-over-year increase. Platform providers across the state reported around $86.4 million in net revenue, which was nearly $14 million lower than September’s total, but nearly $5 million higher than ast October.

Sports betting revenue continues to support New York’s education system. In October alone, nearly $90 million was set aside for educational funding, showing a $5 million increase from last year.

Since the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018, sports betting has spread rapidly across the country. Currently, 38 states have legalized sports betting.