Sports betting in New York has been legal for quite some time. However, it was not gaining much traction. This is because during that time, sports betting was only allowed in tribal casinos. These betting venues offered both retail and online betting options. However, online betting was only allowed within the casino grounds, so bettors would have to physically visit to bet on sports. And since the casinos were too far, it became hard to bettors to travel.
It was, in fact, an advantage to New Jersey, as it was easier for New York residents to hop over to their neighbor and bet through an online bookie software’s sportsbook. It was not until last year that the state finally allowed for online sports betting across the state. And since its launch in January, New York sportsbooks have collected a total sports betting handle of $7.152 billion.
Sports Betting in New York this 2022
The $7 billion handle from New York sportsbooks were all made from January 8 up to May 22. The state currently has 8 licensed sportsbooks. And as many in the pay per head bookie industry know, online sports betting has become increasingly popular and lucrative over the years. A fact that New York now benefits from. The state has collected $263.4 million in tax revenue from online sports betting. New York has one of the highest tax rates for sports betting, at 51%.
And if you use a bookie PPH software, you should expect more action from your sportsbook, just as New York sportsbooks will be getting more action as Memorial weekend welcomes the summer. We will be seeing regular baseball games, as well as the much-awaited NBA Finals.