Sports Betting Revenue In New York Hits Record High For January

Jan NY Revenue

January was a huge success for the New York sports betting market, as they brought in $3.5 million in gross revenue between the four major casinos. If we date back to last January, they brought in $1.9 million in gross revenue. Now the NFL playoffs certainly play into this, but there has been rumored approval for mobile sports betting. However, we have not seen any movement over the last two weeks. New York’s January is certainly a vote of confidence for the state’s embracement of sports betting.

January New York Sportsbook Revenue Numbers

  • Rivers Casino & Resort – $1,429,140 GGR
  • del Lago Resort & Casino – $1,270,812 GGR
  • Resorts World Catskills – $479,557 GGR
  • Tiago Downs Casino – $390,346 GGR

Rivers Casino brought in the most this month among the four casinos and sportsbooks and topped their prior record of $1.07 million from October. Del Lago made a massive improvement on their prior record high of $949,710, which happened in November 2020. Resorts World Catskills and Tioga Downs generally fall third and fourth each month, but both also saw improvements on their monthly high. All of this led to a new state record in revenue for sports betting.

Where New York Compares To The Rest Of The Legalized States

New York is still down compared to Pennsylvania and New Jersey when it comes to neighboring states. This is looking solely at the in-person establishments. On an overall level, New York is not going to be keeping up with them due to mobile betting not being legalized yet. Other states have plenty of options when it comes to operators and ways to bet. New York only has four casinos taking wagers currently, and this isn’t convenient for all. In the covid-19 era, in-person betting is not going to be a priority for some. Not everyone lives within a quick trip to these casinos as well. This is why getting mobile betting approved is best for the consumer and also for New York’s revenue. While Governor Cuomo’s projection of $500 million a year is a little high, New York would certainly benefit from a drastic increase in revenue.

What This Means For Mobile Betting

Mobile sports betting is still on the table in New York as Governor Cuomo was vocal about his growing support for legalizing it. For sports betting to really hit its full potential, mobile betting is key, especially for New York who is looking to increase state revenue. The growing numbers from just these four casinos that are in-person sportsbooks show that there is massive growth and potential. An approval for mobile betting and hammering out the details on licensing and operator fees would allow other sportsbooks to move in, like DraftKings, FanDuel, and BetMGM.

It seemed a few weeks ago that mobile sports betting was going to be accelerated and in the clear for passing legislation. There has been a slight stall when it comes to mobile betting recently. A growing increase in doubters that the mobile betting bill will be approved soon is a cause for concern. However, the state’s growing economic issues could cause that to change.