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The New York State Gaming Commission announced in September that handling amounts for mobile sports betting had surpassed $2 billion, marking a new record. This is the first time the state has exceeded this threshold since the fiscal year started in April.
With a total handling of $2.07 billion for September, New York saw a notable increase of more than $200 million over the same month the previous year. While this is an outstanding number, it is not as high as the record-breaking month of November 2023 in the state, which continues to be the largest amount of sports betting activity since the market’s inception.
Over the past year, New York has consistently posted strong results. Notably, both September and October saw handles of $1.75 billion and $2 billion, respectively. May and June of this year also neared the $2 billion mark. In July, gross gaming revenue (GGR) jumped by nearly $7 million compared to June, bringing statewide GGR to $140 million.
Sports betting companies in New York state that their net revenue for September was about $100.3 million, almost $20 million more than they recorded for the same month the previous year. Furthermore, September’s revenue allotted for education came to almost $104.4 million, indicating a $20 million rise from the previous year.
More than 35 states have legalized sports betting since the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, with New York maintaining its position as the market leader in terms of size and expansion.