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New York’s February wagering handle reaches $1.5B

Sportsnaut
Jan 28, 2022; New York, New York, USA; General view of Madison Square Garden during a ceremony to retire the number of New York Rangers former goalie Henrik Lundqvist before a game against the Minnesota Wild. Mandatory Credit: Brad Penner-USA TODAY Sports
Credit: Brad Penner-USA TODAY Sports

Sports wagering in the state of New York is off to a busy start, with two consecutive months exceeding $1.5 billion in total handle.

According to SBC Americas, the total February handle in the state was $1.5 billion, slightly down from the $1.7 billion handle in January when online wagering launched in New York.

Despite the Super Bowl taking place in February, a slight decline in handle was expected since it was the only NFL game during the month. Online wagering in the state opened Jan. 8 and with just 28 days in February, March will be the state’s first month with at least 30 days of betting available. March also coincides with the start of the NCAA Tournament.

“The NCAA Tournament is the nation’s largest sports betting holiday, and that presents a huge customer acquisition opportunity for sportsbooks,” Mike Mazzeo, lead analyst for PlayNY.com said, according to SBC Americas.

New York averaged $54.6 million in bets per day in February, according to the New York State Gaming Commission. In January, that number was $69.6 million per day.

New York already has generated $206.5 million in gross revenue for sportsbooks, with a $3.2 billion handle. FanDuel proved to be the busiest sports wagering provider with $568.1 million in wagers during the month, with DraftKings ($387.6 million) and Caesars ($323.4 million) also doing heavy business.

–Field Level Media