US sports betting industry analysts knew that New York would be a major legal market in the country. Getting there may have taken a bit longer than expected. Yet, New York has quickly established itself as the biggest legal sports betting market in the US.
The state legalized sports betting in 2019. However, this was limited to retail sportsbooks in land-based casinos in the upstate region. Heading into 2021, state lawmakers began a serious push to expand legal sports betting online through mobile sportsbook operators.
With the proper laws in place, the stage was set to go live with legal mobile New York sports betting in early January of this year. The first legal online sports bets were placed on Jan. 8 and 100 days later the results have been staggering to say the least.
Jump toBreaking Down New York’s First 100 Days
The New York State Gaming Commission keeps very close tabs on legal sports betting in the Empire State. While Nevada gaming regulators are far more laid back when it comes to releasing figures, New York regulators come close to releasing gaming numbers in real time.
Starting on Jan. 8 with the first legal mobile sports bets booked, the overall sports betting handle in New York stands at $5.33 billion through the first 100 days.
From Jan. 8 through the end of that first month, New York set a new national monthly record for legal sports betting volume at $1.65 billion. Neighboring New Jersey held the previous monthly record at $1.3 billion in October of 2021.
Bolstered by March Madness and bets placed on college basketball, New York came close to beating its own record with a $1.638 billion sports betting handle in March. The $5.33 billion in betting volume runs through the first half of April.
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The Big Three in the Empire State
State law governing legal online sports betting in New York allowed up to nine mobile sportsbook operators. Going back to Jan. 8, FanDuel, DraftKings, Caesars Sportsbook and BetRivers were the first four mobile books to go live in the Empire State.
BetMGM quickly joined that list followed by PointsBet, WynnBET and Resorts World. The ninth and final licensed operator is Bally Bet but this mobile app has yet to launch.
Being first to market has been a winning strategy when it comes to building market share in just about any industry. Staying true to form, FanDuel is the biggest mobile sportsbook operator in the New York market.
As the No. 1 sportsbook in the legal US industry based on market share, FanDuel has booked $1.9 billion in New York sports betting volume in the first 100 days.
DraftKings holds down the No. 2 spot in the US industry and it holds a thin lead over Caesars Sportsbook in New York. DraftKings’ 100-day sports betting handle was $1.3 billion. State gaming numbers have Caesars right off that pace at $1.29 billion.
FanDuel Pads Its Lead With New York Yankees Partnership
Building on its early success in the New York market, FanDuel recently announced a partnership with MLB’s New York Yankees as the official sports betting partner of the team.
In early April, Caesars forged a similar partnership with another in-state MLB team, the New York Mets.
