Photo by Gary Hershorn/Getty Images. Pictured: Statue of Liberty, New York
New York launched online sports betting on January 8 and the results have been as big as one could imagine.
There was $150 million wagered on sports in the first weekend that four mobile sportsbooks went live. The information was revealed Monday evening with the presentation of the Governor’s 2023 State Budget Information Book.
How big is the $150 million weekend? Well, it’s possible given those numbers — and the fact that they match the high bet on the NFL playoffs — New York could make at least $500 million in its first mobile month.
That number would already have them battling Colorado for the state with the fifth-highest handful. The only states that would be ahead of New York? New Jersey, Nevada, Pennsylvania and Illinois.
Four sportsbooks – FanDuel, DraftKings, Caesars and BetRivers – launched on January 8. BetMGM joined the fray on January 17.
Four other sportsbooks have obtained licenses and are expected to go live: PointsBet, Resorts World, BallyBet and WynnBET. Governor Kathy Hochuli said she was interested in talking about accelerating three additional licenses.
Geocomply, the leading geolocation tracking company, said in a statement on Tuesday that 1.2 million accounts had been created in New York, of which 878,000 were unique punters.
There was a story that New Jersey had been given a huge boost by the fact that New Yorkers had to cross the state line to place legal bets. Would the ruling state take a hit with the recent legalization?
Geocomply said early indications are that New Jersey was not seriously injured. Of the new accounts created in New York, 87.7% of accounts were created by people new to regulated sports betting and only 9.3% of New York bettors have previously placed bets in New Jersey.
As expected, most people watch promotions and download a single app. Geocomply said New Yorkers who bet averaged 1.3 counts per player, which is in line with the national average. New bettors don’t tend to price shop and start by putting their money in a brand they’re most comfortable with.