New York online sports betting smashes records on opening weekend
New York Online Sports Betting Sets Record on Opening Weekend
The first weekend of mobile sports betting in New York saw massive participation across the state, with 17.2 million transactions spread over the weekend since the Saturday morning launch. The report was released from a geolocation company. According to Lindsay Slader, GeoComply’s marketing director, in New York City’s five boroughs, the volume surpassed 8 million.
NY Numbers Larger than any Other State
Slader confirmed that the New York City numbers were “larger than any other standalone state total” in the country.
The mobile sports betting volume in the Big Apple appears to be gathering pace, and this will only increase with major football games slated this week. Things got underway last night as SEC rivals Alabama and Georgia competed in the College Football Playoff National Championship in Indianapolis. The Georgia Bulldogs emerged victorious to claim the trophy.
The NFL playoffs start with wild card games on Saturday, building up to the Super Bowl on February 13. The only New York team to reach the playoffs, the Buffalo Bills, face the New England Patriots Saturday at 8:15 p.m. E.T. According to Caesars, Buffalo will go into the contest as a 4.5-point favorite.
New York Becomes Country’s Biggest Mobile Betting State
Once mobile wagering kicked off last Saturday, New York became the biggest state to offer online betting in terms of population size. There was a record number of activations on NY Sports betting apps.
Sports betting is currently illegal in the three most populous states-California, Texas and Florida. New York is home to approximately 20 million residents. That figure includes more than eight million people who live in New York City, the largest city in the U.S.
In neighboring New Jersey, an estimated 20% of its monthly sports betting handle has come from New Yorkers hopping over the state line to use their mobile devices to place sports bets. According to the Seeking Alpha website, industry insiders believe many of these bettors will remain in New York now when betting in sports.
Will Hershey of Roundhill Investments said that in regards to impacts on the industry, “New York is likely to quickly become the largest regulated market in the U.S.” Hershey added that we should expect New Jersey’s figures to decrease “perhaps as much as 20 to 25%” because there is now no need for New Yorkers to cross the border to place wagers.
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