New York Sports Betting Revenue Slips 4.4 Percent In October

New York Sports Betting Revenue Slips 4.4 Percent In October

New York’s sports betting revenue has taken a hit as the market performed below expectations in October.

According to figures from the New York State Gaming Commission (NYSGC), New York’s sportsbooks grossed $2.2 million in revenue in October.

The figure represents a 4.4% month-over-month decline in revenue. In September, New York’s sportsbooks took $2.3 million in revenue.

New York is yet to launch mobile sports betting. Retail sports betting operations were launched in the state in July, since then, the sports betting market has generated a total of $5.7m in revenue.

The sportsbook at Rivers Casino & Resort Schenectady emerged as the market leader in October as it grossed over $1m in revenue. It was followed by the DraftKings Sportsbook at the del Lago Resort and Casino which took in $572,410 in revenue.

The sportsbook at the financially struggling Resorts World Catskills picked $506,380 in revenue in October. It did perform well as revenues jumped from the $381,210 the sportsbook took in the previous month.

Mobile sports betting was already given a green signal back in January when the New York State Gaming Commission allowed four privately held casinos in the state to offer mobile sports betting.

However, in the face of strong opposition from Governor Andrew Cuomo, there are no mobile sports betting in the New York state budget.

New York has decided to leave mobile sports betting out and removed it from the state budget.

The decision to omit mobile sports betting has also met with criticism as for some it is not a very logical approach. Senator Joseph Addabbo who has been against this decision made a strong opposition to the move and said, “We’re sitting on the sidelines and letting our money go out of state.”

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