Happy Monday, everyone, especially to those still riding high on last week’s top sports betting news: the launch of mobile betting in New York.
Before completely saying goodbye to 2021, though, make sure to check out the LSR Podcast recapping the biggest stories of last year.
We are quickly into the thick of 2022, though, with the launch of mobile NY sports betting dominating headlines. Make sure to follow @LSPReport on Twitter for any and all upcoming updates about the market.
Top sports betting news: More NY sportsbooks launching soon?
The story of the week and month could become the story of the year depending on just how active the New York market was during launch after going live Saturday morning.
The timing could not have been better, with bettors flocking to sign up for the final weekend of NFL betting in the regular season before the playoffs start this weekend.
The biggest question now, though, is when the five other license winners will join the market. The uniform start date pushed by legislators did not pan out as expected, with four sportsbooks approved to launch:
- Caesars Sportsbook
- DraftKings Sportsbook
- FanDuel Sportsbook, which also announced a partnership with the Buffalo Bills right before launch
Who’s left to launch?
That left five operators on the sidelines with no clear start date until all regulatory requirements are met:
- Bally Bet
- Resorts World
Some of the pending operators shared statements saying they are working with the gaming commission to launch. When those operators can start, especially as it gets closer to Super Bowl betting, is the biggest story to watch for now.
Will Friday bring last big NJ sports betting report?
The December report for New Jersey sportsbooks coming out Friday could look very different compared to its January report to be filed next month.
Estimates suggest as much as 25% of New Jersey’s betting market came from New York. That shakes out to $315 million of the $1.26 billion bet in November.
While it will take time to understand the impact on New Jersey, it could be felt as early as next month considering New Yorkers can bet on NFL playoff games. Whether boosted offers in NJ help hold off that switch is one thing to keep an eye on.
Virginia update incoming
The Virginia Lottery should detail handle and promotional spending leaders through December at its upcoming meeting Wednesday.
The Lottery gave similar updates at its past two quarterly meetings. The monthly reports do not include details broken down by individual operators. From launch in January through September, FanDuel had the biggest handle share at 45.4%, though that was down from 49.5% through June.
DraftKings was second through September with 26.1% handle share.
Virginia sportsbooks reported a record $48.3 million in sports betting revenue for November on $402.6 million in handle.
Last week’s top sports betting news
While it might not seem like it, there were happenings in the US sports betting industry last week that did not include New York:
- The Arizona Coyotes announced plans to launch SaharaBets this Wednesday. We also finally know what the existing AZ sportsbooks did in their first two months of operations: $777.3 million in handle.
- Could this be the year Mississippi legalizes statewide mobile sportsbooks? The effort failed each of the past three years.
- Sports betting in Colorado also reported record revenue in November with $36.8 million.