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The New York State Gaming Commission released its May mobile sports betting data, which showed a handle of about $2 billion. The Empire State’s betting industry has grown significantly, as seen by this number, which is up more than $8 million from April.
May’s handle is among the largest since the market for mobile sports betting was introduced in New York. Based on the information from the Commission, November has the highest handling. With monthly handles of $1.75 billion and $2 billion, respectively, September and October are two more noteworthy months. More than $19 billion worth of bets have been made in New York during the last year, demonstrating the lively nature of the market.
Gross gaming revenue (GGR) for May increased by nearly $20 million compared to April, reaching $203.3 million statewide. Platform providers reported a combined net revenue of approximately $99.6 million for the month, a growth of nearly $10 million from April. Additionally, the revenue allocated for education in May totaled $103.7 million, almost $10 million more than in April.
Other news: NYRA Content Management Solutions, LLC, a division of the New York Racing Association, purchased 49% of Churchill Downs Incorporated (CDI)’s United Tote Company subsidiary. A big change in the state’s racing and betting scene is represented by this deal.
Since its launch two years ago, online sports betting in New York has made a substantial financial contribution to the state. More than 35 states have accepted legalized sports betting after the US Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992 (PASPA), often known as the Bradley Act, in May 2018. Legal sports betting has the potential to be very successful nationwide, as demonstrated by the booming industry in New York.