New York Shatters New Jersey’s All-Time Monthly Online Sports Betting Record

New York Mobile Sports Betting Background

New York has shattered New Jersey’s all-time monthly sports betting record.

According to data released by New York regulators, the Empire state took wagers totalling $1.6 billion for the period January 8 to 30. That amount breaks the previous mark of $1.2 billion online bets taken which New Jersey set in October 2020.

Highest Bet Takers in N.Y.

FanDuel led the way with a total of $141.8 million in online sports bets taken in New York. Caesars Sportsbook was second with $128 million in online wagers. DraftKings came in third with its $108.8 million online sports bets taken while BetMGM saw a total of $35.7 million using its online facilities in New York. All mentioned mobile operators also have land-based presence in the Empire State and New Jersey.

FanDuel operates the brick and mortar sportsbook at the Meadowlands Racetrack just outside New York City. Meanwhile, FanDuel operates three sportsbooks in three casinos in New Jersey. Meanwhile, DraftKings runs the in-person sportsbook at the Resorts Casino Hotel while BetMGM owns the Borgata in Atlantic City.

New Jersey Unfazed

Despite witnessing its record broke, New Jersey is unfazed. According to data from GeoComply, the Garden State logged in 12.6 million transactions during the two weekends leading up to New York’s launch and another 13.1 million transactions in the two weeks after.

The lower tax rates in New Jersey could encourage sportsbooks to promote current New York-based online sports bettors to continue playing in the Garden State where the business environment is more favorable to these sportsbooks. However, given legit threat of the N.Y. sports betting ,market, these sportsbooks will ned to continue to innovate and bring new products.