Bally Bet Live For Mobile NY Sports Betting As Market Nears $9B

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NY sports betting

Mobile sports betting in NY passed its six-month anniversary Friday and is already the fifth market by lifetime handle in the US.

The state’s eight live sportsbooks took $8.6 billion in bets from launch through July 3, five days shy of a true six-month total. That surpassed Indiana as the fifth-largest in the US despite Indiana sportsbooks launching nearly 2.5 years before New York.

Revenue totaled $612.9 million through July 3, which leaves it sixth in the US right behind Indiana.

One area where NY sports betting is already a leader is tax collection, mostly because of its 51% rate. Operators have generated $312.6 million in taxes through July 3.

Bally Bet finally live

There were nine mobile sportsbooks that won licenses through a competitive bid back in November.

The casual observer would not realize that, though. Bally Bet was supposed to launch first in April and then by the end of the first half, or June 30.

Both of those deadlines were missed but the brand is now live in the New York market as of Friday morning.

FanDuel solidly leads NY handle, revenue

There is a clear hierarchy in New York through the top four operators, with FanDuel the far-and-away leader:

Resorts World Bet$24,688,827$1,106,9884.5%$564,564

From launch through July 3, FanDuel has a 39.7% handle share and 45.8% revenue share. Second-place DraftKings drops off from FanDuel with 24.5% handle share and 22.8% revenue share.

Caesars led the New York market at the beginning after offering the largest sign-up bonus available. It is now solidly in third place with a  20.9% handle share and 21.2% revenue share.

June NY sports betting report lowest yet

New York saw its lowest month for both handle and revenue in June, which reflects the slowing sports schedule.

Operators took $1.052 billion in bets, down 16.8% from May. Revenue was $72.4 million, which beats out February’s $82.4 million as the least revenue yet. That generated $36.9 million in taxes.

Who will NY sports betting knock off next?

It could take NFL betting to push New York into the fourth overall spot in terms of handle.

Illinois sports betting sits fourth in the US with $12.3 billion in handle through April. Between the slow summer months and Illinois launching remote registration, though, it could be the fall before New York overtakes the Prairie State.

Illinois also sits fourth with $879.2 million in revenue through April.