Mobile sports betting has brought big bucks to New York State, Gov. Kathy Hochul’s office announced Tuesday.
New York has generated $267 million in sports betting over the past six months in the five months since betting from mobile devices such as smartphones and tablets went into effect. Of that money, $263 million came from mobile sports betting as of Jan. 8.
The state was always expected to be a major market for mobile sports betting. The revenue raised is a record amount for any state that has since allowed mobile sports betting, the governor’s office said. The state has also raised more money from mobile sports betting than neighboring states, which have had mobile sports betting for several years.
New Jersey has raised $229 million since June 2018; Pennsylvania has raised $253 million since November 2018.
“In less than half a year, New York has become a state leader in implementing successful gaming policies, with hundreds of millions of dollars poured into important programs that will improve the lives of all New Yorkers,” said Hochul. “I am committed to maintaining responsible and effective gaming policies that will advance the industry and continue to fuel our state’s economic growth.”
New Yorkers have been awash in advertising for mobile sports betting since the emergence of the regulatory structure that allows it to evolve. It has raised concerns that the ease of problem gambling is essentially just a touchscreen away.
“OASAS stands ready to provide services and support to New Yorkers struggling with gambling problems,” said Chinazo Cunningham, commissioner of the New York State Office of Addiction Services and Supports. “The additional revenue from mobile sports betting will enable OASAS to further improve prevention, treatment, recovery and harm reduction services for individuals or their family members who are harmed by gambling.”