It was only in January of this year that online sports betting was legalized in New York and around $2.4 billion in betting was spent as of February 13, generating $80 million in tax revenue. The Super Bowl accounted for a quarter of the bets, generating $472 million.
The state managed to surpass New Jersey and Nevada. This is the first time New York has reached number one in sports betting since legalization in 2018.
For the state, the numbers generated by online sports betting are extremely positive, as operators must pay a tax rate of 51% on gross income from gambling.
This rise of New York in the betting market was due to the transformations in the gaming industry after the Covid-19 pandemic, which reshaped the previous model and expanded the opportunities for earnings with the modality.
A big moment for the US sports betting industry
In the year 2021, Americans recorded a huge record, according to the American Gaming Association, as they bet more than $57 billion on sports. In fact, it was the best year, recording the highest grossing ever, especially with slot machines and table games.
The sports betting industry has enjoyed a positive recovery after the closure of casinos and other establishments at the start of the pandemic, where many of the gamblers looked for other ways to gamble.
According to industry analysts, the main incentives for players to go after sports betting were: betting platform promotions, big payout offers, risk-free betting and thousands of dollars in free bet credits deposited into player accounts.
On the other hand, this increase in betting worries addiction experts. The state’s Office of Addiction Services and Support said there was a 46% increase in calls to the gambling help network in January compared to the same month last year, even as campaigns increased. awareness of the risks of the activity.
