New Yorkers on Pace to Bet Over $21 Billion on Sports in 2024

• New Yorkers have wagered over $18.1 billion on sports in 2024 through October.
• If numbers hold steady, NY sportsbooks will have made over $1 billion throughout 2024 after paying taxes to the state.

NEW YORK – New Yorkers are poised to set a jaw-dropping milestone in 2024, with sports betting numbers projected to surpass $21 billion by year’s end. If realized, this would continue an explosive growth trend in the Empire State’s betting market, cementing its status as the nation’s most lucrative sports betting hub.

A Rapid Ascent in Wagering Activity

The rise of sports betting in New York has been nothing short of remarkable. In 2022, New Yorkers wagered $16.3 billion, a number that surged to $19.2 billion in 2023. For 2024, with $18.1 billion already on the books through October, average monthly handles of ~$2 billion for November and December would help the state cross the $21 billion annual threshold.

This year’s projected total represents a staggering 29% growth in just two years, showcasing the deep enthusiasm New Yorkers have for legal sports betting. Mobile apps have been a significant driver of this growth.

Revenue Generation: A Win for the State

The state’s betting boom is not just about the dollars wagered; it’s also about the revenue it generates. In 2022, the state raked in $1.37 billion in revenue from sports betting, a figure that rose to $1.7 billion in 2023. Through October of this year, revenue has already reached $1.67 billion, putting New York on track to challenge last year’s record.

The most recent revenue numbers include $206 million in September 2024 and $176 million in October 2024. Averaging these NFL betting months proves that New York sportsbooks could achieve $2 billion in revenue in 2024 before paying taxes to the state.

Implications for the Future

With billions in annual betting handle and over a billion dollars in revenue, sports betting has become a critical part of New York’s economic fabric. Looking ahead, the question isn’t whether New Yorkers will bet big—it’s how much bigger the numbers will grow.

With continued innovation and sustained interest in sports betting, 2025 could see yet another record-setting year. For now, New York remains the undisputed king of sports betting in the United States, setting the standard for what a thriving legal betting market can achieve.

News tags: New York | NFL