Two years after the first legal online sports bet was made in New York, sports betting is surging and breaking new records in The Empire State. According to the latest revenue data from New York State, sports betting is flourishing and is shaping up to have another big year in 2024.
Is New York the new mecca of sports betting in the United States? The numbers are certainly pointing in that direction. Let’s dive into the 2023 New York sports betting revenue and peek into what the landscape could look like for the new year and beyond.
On January 8, 2022, mobile sports betting finally launched in the state. Despite a late start compared to New Jersey and other rival states, New York online gambling instantly became a hit.
New York Sports Betting Revenue For 2023
In the first month of accepting legal mobile sports bets, New York broke the U.S. record for the most money wagered in a single month.
New York accepted $1.6 billion to break the old record of $1.3 billion set by New Jersey. Additionally, New York broke the previous state tax revenue record by double1. Since then, New York sports betting revenue has only continued to balloon.
According to New York Gov. Kathy Hochul, the state recorded unprecedented sports betting figures this past year. New York’s sports betting handle — or total among wagered — maxed out at just over $19 billion.
As a result, in 2023, New York State collected an astounding $1.55 billion in tax revenue from mobile sports betting. The 2023 New York sports betting online revenue of $862 million was a record for the state in its second year of operation.
2023 New York Sports Betting Month-Over-Month Revenue and Handle
Let’s examine the monthly mobile sports betting revenue and betting handle figures from New York in 2023. All data is courtesy of the New York State Gaming Commission2:
| MONTH | BETTING HANDLE | REVENUE | TAXES |
|---|---|---|---|
| January 2023 | $1,799,048,366 | $149,886,749 | $76,253,908 |
| February 2023 | $1,474,299,932 | $108,470,835 | $55,242,679 |
| March 2023 | $1,792,885,345 | $163,582,116 | $83,117,519 |
| April 2023 | $1,550,014,914 | $139,265,045 | $70,842,936 |
| May 2023 | $1,363,794,316 | $152,643,135 | $77,571,580 |
| June 2023 | $1,170,989,676 | $103,956,640 | $52,965,055 |
| July 2023 | $966,555,215 | $105,510,883 | $53,655,339 |
| August 2023 | $1,118,163,959 | $99,241,793 | $50,310,977 |
| September 2023 | $1,767,913,849 | $166,834,226 | $84,563,885 |
| October 2023 | $2,017,133,484 | $167,327,704 | $84,927,344 |
| November 2023 | $2,122,331,713 | $151,291,345 | $76,999,480 |
| December 2023 | $2,053,736,710 | $189,287,146 | $96,131,764 |
Over the last three months of 2023, New Yorkers wagered at least $2 billion on sports through mobile gambling platforms. With NFL betting online in full swing, bettors were gambling more than ever from October to November.
In November 2023, New York set the United States sports betting monthly betting handle, with roughly $2.1 billion wagered. This was after a record-setting October with just over $2 billion in total bets accepted by New York mobile sportsbooks3.
A year earlier, in November 2022, New Yorkers gambled a total of $1,564,144,672 on mobile betting apps and online. The year-over-year jump represents a significant increase for New York sports betting.
And, then in December 2023, New York sports betting revenue shattered their previous records. New York earned $189,287,146 in state revenue from mobile sports betting for a new high.
Despite not launching online sports betting until January 2022, New York ranks third in all-time wagers accepted since the U.S. Supreme Court legalized sports betting in 2018. Overall, New York has welcomed $35.7 billion in wagers since sports betting began.
Only New Jersey and Nevada are ahead of New York, though they’ve had a considerable head start, with 5 ½ years of offering mobile sports betting. New Jersey has taken in $44.2 billion, while Nevada is second with $36 billion in wagers accepted4.
New York is quickly catching up to Nevada, and will most likely eventually take over the lead from New Jersey in overall sports betting handle in the country.
The Top Sports Betting Site For New Yorkers In 2024
With New York sports betting experiencing a great deal of success in 2023, expectations are high that the betting handle and tax revenue will continue to rise. Additionally, the sports betting landscape has become a very competitive one in The Big Apple. Operators are engaging in a battle of sports betting supremacy in order to draw in as many New Yorkers as possible.
From our substantial experience betting at New York online sportsbooks, we’ve identified one operator that stands out from the pack – Bovada. This sports betting site provides a superior experience for new bettors, veterans, and high rollers alike.
The first feature that attracts us to Bovada is its extensive options of betting offerings. From small niche sports to entertainment betting, the best NFL lines, and much more, Bovada has it all with hundreds of odds ready every day.
Plus, Bovada has a variety of prop bets and a live betting experience that is hard to beat. We’ve raked in quite the bankroll just by taking advantage of Bovada’s props and in-game wagering opportunities.
Bovada offers bettors an array of convenient deposit and payout methods. Also, they each come with an exclusive sports betting sign-up bonus. Currently, Bovada is giving new customers a 50% match bonus of up to $250. If that isn’t enough, deposit with cryptocurrency to get a 75% match bonus of up to $750, for a limited time.
In first month, New York sets record for the amount bet on sports, and tax revenues, too | Syracuse.com. Retrieved From “https://www.syracuse.com/betting/2022/02/in-first-month-new-york-sets-record-for-the-amount-bet-on-sports-and-tax-revenues-too.html”
NYS Gaming Commission :: Gaming. Retrieved From “https://www.gaming.ny.gov/gaming/index.php?ID=3”
2023 In Review: U.S. Sports Betting Goes Full Title | Front Office Sports. Retrieved From “https://frontofficesports.com/2023-in-review-u-s-sports-betting-goes-full-tilt/”
Governor Hochul Announces Mobile Sports Wagering Generated $862 Million for New York State in its Second Year of Operating | New York State. Retrieved From “https://www.governor.ny.gov/news/governor-hochul-announces-mobile-sports-wagering-generated-862-million-new-york-state-its”
