August Shows Increase In Revenue At New York Sportsbooks

by | Sep 11, 2019 6:55 pm | Revenue | 0 comments

August Shows Increase In Revenue At New York Sportsbooks

New Yorkers doubled the sports betting efforts in August as the NFL season drew near.

  • The state of New York is currently doing a case study on sports wagering that will also include mobile options.
  • The interest in New York sports betting has increased greatly.
  • The state has both tribal and commericial casinos open for business.

NEW YORK – August figures are in for sports betting in the state of New York and those numbers have doubled from the previous month. The New York State Gaming Commission (NYSGC) reports a revenue of $783,896 from the sports wagering market in August. That number is almost double the figures from July which resulted in a revenue of $349,468.

In 2013, New York made sports betting legal within their commercial casinos under the New York Economic Gaming Act. This Act allowed for casinos to open sportsbooks if the federal ban on sports wagering was ever abolished. In 2018, PASPA was repealed, and it allowed for New York finalize their rules and begin constructing sports betting lounges.

There are multiple tribal facilities that offer sports wagering along with commercial casinos. In August 2019, the Oneida Indian Nation partnered with Caesars Entertainment to open sportsbooks at Turning Stone Casino and Point Place Casino. Figures for these two locations are not required to be reported.

Where Did The Revenue Come From?

More than half of the money stream came from the Rivers Casino Sportsbook, having totaled the month at $445,291. Rivers Casino is located in Schenectady and has been a very popular location since opening its sportsbook in July.

The second highest reported income came for del Lago Resort and Casino Sportsbook in Seneca County. Their sports betting lounge is run by DraftKings and opened its doors on August 23. In the eight days of August that they were open for business, they managed to make $182,950 in sports wagers.

Tioga Downs Casino Resort in Nichols has a sportsbook operated by FanDuel. They were able to make $87,774 for the month of August. In fourth place for revenue with an amount of $67,881 was Resorts World Catskills. Although they had a soft opening in late August, which the low figures can attribute to, they officially opened their doors on the first day of the NFL season on September 5.

The state of New York has not legalized mobile betting so these numbers come strictly from brick and mortar establishments. The NYSGC can only report numbers from commercial casino sportsbooks. Any tribal locations that offer sports betting to their patrons do not have figures listed at NYSGC for public display.

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