Online betting in New York tops $1 billion wagered in less than a month

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It’s a sum that Dr. Evil of the “Austin Powers” lore sought out with nefarious schemes. Online betting in New York didn’t need to build time machines, hijack nuclear missiles, or build a lair inside a volcano to hit $1 billion.

In the first 16 days of active betting, New Yorkers and visitors to the state descended on $1 billion in legal online sports betting. This indicates that the launch of legal online sports betting in New York is the most impressive performance of any US gambling market at any time.

$1 billion in just 16 days for online betting in New York

According to New York State Gaming Commission, NY online sports betting took $1.175 billion in wagers from Jan 8-23. That’s nearly double the $600 million the operators handled in the first nine days of betting.

A few factors have likely led to the furious growth since Jan. 16. The fourth FCA and NFC the divisional playoff games provided fodder for those who had not yet signed up for one of the five sportsbooks to use these promotional offers. A continuous barrage of publicity has kept bettor awareness high.

The biggest beneficiary of this marketing was Caesarswhich was over $487.3 million under management from Jan. 8-23. FanDuel raked in over $360 million. DraftKings comes next with over $265.5 million.

Bringing up the rear were BetMGM to $40.6 million and Bet Rivers at $22.2 million. It should be noted that BetMGM did not go live in New York until January 17.

We’ll have to wait to see exactly what impact PointsBet, the state’s sixth-largest online bookmaker, will have. The latest earnings report did not include it because it was not posted online in New York until January 25. This is one of the reasons why we could see a new record soon.

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The best month in the history of online gambling in the United States?

Last October, New Jersey bettors bet a record $1.3 billion on sporting events on legal sports betting apps in this state. Now, some of those same people could be part of setting a new record. They will also do so without having to cross a state line, as many New York residents likely contributed to this record in New Jersey.

With a sixth operator offering new bonuses and both NFL conference championship games to complete the month’s sports schedule, chances are New York’s online sports betting management for January 2022 can surpass that record by $1.3 billion. PointsBet is offering new New York customers two free bets worth up to $2,000.

Betting on AFC and NFC Championship games would only help the market produce over $125 million in the last eight days of the month. Given that New Yorkers bet on average on $73.4 million per day in the first 16 days, it seems quite doable.

Exceeding $1.3 billion in wagers would be pretty remarkable in a full month, but the fact that New York could do it in only 24 days would be even more impressive. Probably even more impressive than the sharks with pesky laser beams strapped to their heads.

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