On Friday, January 6, 2023, the New York State Game Board released its latest weekly report on the local mobile sports betting market. 바카라사이트For the week ended January 1, 2023, weekly figures show a solid end to 2022 and a strong start to the new calendar. During the week, online sports books handled more than $410 million in bets.
Empire State’s mobile sports betting officially began a year ago on January 8, 2022, and has already exceeded expectations. The local market has transformed the state’s regulatory online sports betting model into one of the most successful models in other regulatory jurisdictions in the United States by allowing nine personal sports books to operate in the sector.
Last week, the New York State Gaming Board, which oversees the online sector, reported that operators handled $410.8 million in bets during the seven-day period that ended January 1, 2023. This is significantly larger than the previous week’s bet of $352.6 million and the largest weekly figure since the end of November 2022.
Meanwhile, C$410.8 million per share translated into total game revenue of $23.9 million for nine digital sports books. The figure is significantly lower than the previous week when the GGR hit $37.8 million. On January 1, 2023, the weekly operator hold was only 5.8%, while the previous week’s hold was 10.7%.
In terms of the number of operators, FanDual was the state’s top sports betting app with bets exceeding US$160.2 million for the week. But total revenue was only US$12.4 million. Second place in terms of performance was DraftKings again, with the online bookmaker collecting total game revenue of US$126.5 million and US$7.1 million.
Third place this week was Caesars Sportsbook, which accumulated $53 million in online betting and $2.7 million in revenue. But there was a change in the ranking as PointBet reported a $29.8 million handle and only a $150,057 GGR. Bet MGM earned its fifth-largest handle with $27 million and $1.2 million in revenue.
Despite a strong start to 2023, gambling experts in the industry predict that New York’s online sports betting market will now have the same success in 2023. Each month of 2023 is expected to be a total of $13.9 billion in bets, slightly below the 2022 total. And it is expected to earn $1.04 billion in GGR based on its average 7.5% holdings in sports books.
Meanwhile, in December 2022, D-Mount Vernon State Representative Gary Fritlow held a hearing in Albany to learn and discuss how the introduction of mobile sports betting affected the state budget. The Commission is interested in examining the overall economic impact of the new legal option and its impact on the New York State budget.