It’s only been a few weeks since New York mobile sportsbooks launched, and as one of the largest potential gambling markets in America, there’s lots of money to be made… and that’s exactly what state politicians were hoping for. Now, in just a few weeks of operation, the New York market is living up to expectations by bringing in just over $1.1 billion in sports betting revenue.
These numbers mean that the operators generated over $91 million in profits in just over three weeks of operation. And at a tax rate of 51%, New York took in nearly $47 million.
For some time now, New Jersey has been one of the top sports betting markets in the country, with revenue from this past December coming in just shy of $60 million. Two of the biggest operators there, DraftKings and FanDuel, are also some the first New York mobile sportsbooks to launch.
Caesars was the leader in New York state, generating nearly $488 million in revenue, while FanDuel was able to bring in just north of $360 million. DraftKings was third in profits, as they posted over $265 million, which worked out to $21.7 million in winnings.
If New York mobile sportsbooks can maintain this level next month, then state tax revenues could easily remain above the $1 billion per month mark.