New York Broke USA Sportsbetting Record January

[jjgold]

In its first month with mobile sports betting, New York sets the all-time U.S. state handle mark with $1.6 Billion wagered in January

[ChuckyTheGoat]

JJ, what do you think their Net profit was?

+6% hold would put them around +$100Mill profit.

If anyone gets involved in Parlays/Exotics, it would be even higher.

[Bluehorseshoe]

How bad did NJ get hit as a result??

[capitalist pig]

1.6 billion in a month In just one state, there is no way this hasn’t effected offshores bottom line, not to mention coinbase being affected negatively , since most of those players probably used it as well to move btc/$. Good for onshore, to bad for me being in Florida and still having to use offshore outs

[SamsNCharge99]

NY so stupid waiting so long. Missed a whole NFL regular season

[jjgold]

It has about 10%-15%

But that will maybe top out at 20% but then settle on around 10% long term
As players compare options

1.6 billion in a month In just one state, there is no way this hasn’t effected offshores bottom line, not to mention coinbase being affected negatively , since most of those players probably used it as well to move btc/$. Good for onshore, to bad for me being in Florida and still having to use offshore outs

[ChuckyTheGoat]

NY so stupid waiting so long. Missed a whole NFL regular season

Ya, Sam. So they can hit you up with more State taxes.

You happy paying for Cuomo's lawsuits?

[Mugsy777]

Sad , gamblers will get BURIED

[SamsNCharge99]

Ya, Sam. So they can hit you up with more State taxes.

You happy paying for Cuomo's lawsuits?

i don't play with the US books. I play offshore.

[d2bets]

Sad , gamblers will get BURIED

Some of them. Others will win. Same story as always.

[kursonik]

Others will win

[jjgold]

I dream about a betting exchange in the US

never will happen no liquidity unless all 50 states pooled together

[ChuckyTheGoat]

never will happen no liquidity unless all 50 states pooled together

Goldy, you're right. Surprisingly, Pools don't do as well as you'd think.

You need volume. And most guys only air-bet.

[big joe 1212]

A new generation of degenerates right around the corner

[newton0038]

The pols will fleece the new revenue stream immediately

[LT Profits]

And that 1.6 Billion was mostly over 3 weeks, as mobile betting did not become legal until January 8th.

[jjgold]

I wonder if they can hit 2 billion?

[big joe 1212]

Bonuses and free plays had a lot do with it

Everyone took advantage

[thomorino]

Im more interested to see how they are doing a month from now. Everyone is willing to gamble when your first bet is free up to 2k. I expect the numbers to drop after the first month when players are done with the promotions and the NFL season ends

Their numbers in March once the NFL season ends and the promos are gone will be more interesting to me.

[thomorino]

Bonuses and free plays had a lot do with it

Everyone took advantage

Its football season too with a lot of good sports to bet on.

[jjgold]

Those big bonuses did help but still was an impressive bumber

[LT Profits]

Im more interested to see how they are doing a month from now. Everyone is willing to gamble when your first bet is free up to 2k. I expect the numbers to drop after the first month when players are done with the promotions and the NFL season ends

Their numbers in March once the NFL season ends and the promos are gone will be more interesting to me.

I would not be surprised by 2 Billion in March, full 31-day month + March Madness.

[big joe 1212]

March Madness will be crazy numbers

[thomorino]

I would not be surprised by 2 Billion in March, full 31-day month + March Madness.

Disagree and most of the march madness tournament in is April so the numbers wouldn't show up until April anyways when the bigger games are played.

[LT Profits]

Disagree and most of the march madness tournament in is April so the numbers wouldn't show up until April anyways when the bigger games are played.

NOT True, all but the Final Four (so 3 games) are in March.

[thomorino]

NOT True, all but the Final Four (so 3 games) are in March.

Those are the games with the biggest handle. It's been a down year for college basketball for a number of reasons too, I would be very surprised if March or April exceeds January's numbers.

[blackbart]

what was the previous record?
some where like 50% of this
remember the ol days when nevada was the "gambling capitol of the world"

[USCPHILLYGUY]

NJ 958 mil handle.

[jjgold]

NJ still doing well despite fierce competition

Locals getting hurt to a degree

[LT Profits]

1, New York 1.6B
2. New Jersey 1.3B
3. New Jersey 958M

[Shifty]

Betting in New York has only been going on for a short time. Wait until they all start cutting limits and watch the handle drop off. DraftKings, Fanduel, BetRivers, MGM etc.