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New York quickly overtook New Jersey and Nevada as the king of sports betting in the nation.
Residents across NY placed bets worth $1.64 billion worth of mobile gambling apps in the first month when the service was legally available to consumers, according to state data.
That tops the $1.015 million Nevadans spent on sports betting online in December, and New Jersey’s record $1.3 billion in October. January figures for New Jersey and Nevada are not yet available..
Nevada, New Jersey and New York are the only three states that exceed one billion dollars in monthly bets, he said. New York Post.
In NY, mobile or online sports betting could be made for the first time since last January 8, after a legal reform. It was an anticipated move by the State Gaming Commission, as it was not expected until mid-February, ahead of the Super Bowl, the largest American sporting eventwhich this year will be next Sunday the 13th.
Since mobile gambling apps opened in New York, residents have wagered $1.62 billion between its launch and the week ending January 30. The sports betting in person at four upstate casinos they added about another $15 million, bringing the monthly total to $1.64 billion.
New York is expected to generate even more dollars when more mobile sports betting apps go live. WynnBET has just started accepting bets and BallyBet has yet to start operating in the state.
“New York has exceeded all our expectations,” Rush Street Interactive COO Mattias Stetz told the daily Times-Union of Albany. That company owns and operates the BetRivers app, which is affiliated with Rivers casino.
The intense demand for sports betting has caused observers to predict that New York could set a one-day record on Super Bowl Sunday. The big game will face in California the Cincinnati Bengals against the local team Los Angeles Rams.
New York estimates $10 billion dollars in sports betting each year, with nearly $1 billion in expected profits split between the state and the operators.
The state of NY has already received $200 million in license fees from mobile sports operators and the companies have agreed to pay a 51% tax on gross receipts, which far exceeds the takings in most other states where online sports betting was already legal.
Until now, state residents could only gamble at upstate NY casinos, and many NYC residents simply set up mobile accounts to place phone bets in neighboring New Jersey, he said. New York Post.
The State Senator Joseph Addabbo Jr. (D-Queens), chairman of the Committee on Racing, Gaming and Gambling, said in January that the passage “will generate additional revenue for the state, including for education, and create jobs.”
He also detailed that there will be $6 million in annual funding for programs that combat gambling addiction. Precisely critics are concerned that telephone sports betting will create a generation of game addicts and destroy lives and pockets, much worse in the midst of leisure and unemployment accentuated in the pandemic. DraftKings, one of the apps, promised to make background checks to spot people who make big bets to make sure they’re not doing it beyond their means.