New York Could Surpass $1 Billion Milestone by Summer

While we’re on the subject of money, New York has been celebrating its churn since January 2022, when online betting went live—$70.8 million in state tax revenue; $978.4 million since launching.

Projections call for $500 million by fiscal 2024, and $690 million in 2022. Almost $70 million more than a year ago, according to PlayNY.

According to the New York State Gaming Commission, bettors in the state combined for $1.5 billion in April handle alone. As a result, New York sports betting has generated over $22 billion in lifetime handle. Gross gaming revenue, meanwhile, increased to $1.9 billion after sportsbooks pocketed $138.8 million last month. With April’s numbers, the state sits a little over $2.2 million away from passing that mark. Expect New York to break through $25 billion by June.

The biggest total, however, is state tax revenue. At $978.4 million, New York is just $21.6 million away from hitting $1 billion lifetime. Which should occur in mid-May.

Of note, Resorts WorldBet posted its best month yet with $7.9 million last month. Meanwhile, BetMGM New York reported its best month since April 2022, and Bally Bet New York totaled its second-best month since going live last summer.