Connect with us

Hi, what are you looking for?

Business

Here’s how much New Yorkers wagered on the Super Bowl

New Yorkers unleashed by the state’s legalization of mobile sports betting went all in during Super Bowl week. Residents of the Empire State wagered $472.1 million in the run-up to the big game, according to data published by the New York State Gaming Commission. The week leading up to the contest proved to be one of the most lucrative since New York approved legalized online sports betting on January 8. During the third week of January, New Yorkers placed a total of $572.5 million in bets — the highest so far. Albany is banking on mobile sports betting to generate a substantial amount of tax revenue. The state takes a 51% cut of gross revenue generated by each of the seven licensed mobile gambling vendors. Two more vendors are pending approval to begin taking bets. DraftKings, one of the vendors that was granted a license to operate in the state, said 1.7 million users of its platform placed bets on the game, which was won by the Los Angeles Rams in a thriller over the upstart Cincinnati Bengals. “That was by far the most we’ve ever had in one day and it’s not even close,” DraftKings CEO Jason Robins told Bloomberg. “I can tell you it was up, extraordinarily higher year-over-year versus last Super Bowl.” In fiscal year 2022, New York State expects to take in $249 million from taxes on gambling revnues. “Over the past month, we’ve seen how mobile sports wagering can be an economic engine for New York, driving significant funding to our schools, youth sports, and so much more,” Governor Kathy Hochul said in a statement. Across the Hudson River, New Jersey residents placed $143.7 million in bets on the Super Bowl. So far, any predictions that New York’s legalization would eat into the Garden State’s share of the mobile gambling pie have proven for naught. New Jersey residents placed a total of $1.3 billion in online sports bets in the month of January — an all-time record. Thirty states now offer legal online sports betting, though the country’s largest state in terms of population, California, does not.

Click to comment

Leave a Reply

Your email address will not be published.




Advertisement

You May Also Like

Business

Contact The Author Female employees at CNN are furious that chief spokesperson Allison Gollust is keeping her job after lying about her affair with...

Business

Katie Couric dished on Jeff Zucker and Allison Gollust’s relationship in her tell-all memoir last fall, saying it struck staffers as “super strange” when...

Business

North Korean hackers managed to steal a fortune in cryptocurrency in 2021, according to the results of a recent study. Cybercriminals based in North...

Finance

THE COUNTRIES of East and South-East Asia are renowned, even envied, for reshaping global supply chains. Less well appreciated is the extent to which...