The New York sports betting market continues to make strides in the industry. The total amount wagered since its launch date is almost a record-setting figure of $5 billion.
FanDuel Secures the Top Spot Once Again
Since the biggest mobile sports betting launch began in January, eight sportsbook operators have accepted $4.994 billion in wagers, according to the numbers posted by the New York State Gaming Commission.
BallyBet is the ninth operator that received an approved license to conduct business in the Empire State. The platform is expected to go live at some point next month as bettors across the state tend to wait for no one as sports gambling is in such high demand.
Mobile sports betting has taken over the Empire State as Caesars offered new users the biggest promotion of all time to new users. However, the bookmaker has taken a back seat to its competitor FanDuel since its early success.
As far as the standings go in terms of overall handles, FanDuel leads the way with $1.82 billion. Caesars has a handle of $1.24 billion, and DraftKings is slightly behind with $1.21 billion in accepted bets.
Weekly Numbers Have Been Down in New York
The decline in the average betting volume isn’t quite a surprise as the sports betting schedule isn’t so plentiful. For the week ending on April 3, the eight licensed sportsbooks have combined to bring in a total of $312.1 million in wagers. This includes the bets that were taken in the men’s Final Four matchups between North Carolina vs Duke and Villanova vs Kansas.
The weekly total is down from the previous week ending on March 20, with the number of games dropping in the tournament. The handle for last week was slated at $427.9 million, with neighboring Saint Peters still in the mix.
The highest weekly handle came in mid-March when there was a full set of games in the tournament. There were a total of 52 games which included four play-ins, when the tournament began.
Baseball Season Could Bring Betting Interest Across the State
After a long lockout, part if not all of the MLB season was in doubt as an agreement couldn’t be reached for an extensive period of time. The New York Yankees and the New York Mets have high expectations this season as the Yankees have been a good team for a long time, and the Mets made some key acquisitions in the offseason.
Caesars Sportsbook also partnered with the Mets on a multi-year agreement to become the official sports betting partner of the franchise. The deal includes a 13,000-square-foot upscale sportsbook lounge that will open during the regular season. The partnership could help Caesars gain back some ground that they lost to FanDuel during the few weeks.
The NBA playoffs are set to begin on Tuesday with a play-in round. The betting numbers are also expected to pick up once again when the NHL’s Stanley Cup playoffs begin in early May.