Caesars Sportsbook is reigning over the New York mobile sports betting market in its first weeks of operation after a gargantuan Jan. 8 mobile app launch, state revenue data shows.
Figures released by the New York State Gaming Commission on Jan. 21 indicate Caesars New York topped four of five New York mobile sports betting operators with a total handle of $257,651,199 on the Caesars app.
The handle claimed by Caesars is 42.7 percent of the $603,053,836 wagered on sports through the four operators, including FanDuel ($200,351,886), DraftKings ($134,417,078), and BetRivers ($10,633,673) for the weeks ending Jan. 9 and Jan. 16, 2022.
Mobile sports betting revenue data from BetMGM New York was not accessible on the NYSGC website this morning.
Caesars also ranked as the leader in mobile sports betting gross gaming revenue (GGR) for the first two weeks by the NYSGC. Nearly half of the total GGR of $48,224,783 was generated by Caesars ($22,714,739).
Four other mobile sports betting platforms will launch in New York once they receive statutory and regulatory approval from the NYSGC. Those sportsbooks are PointsBet, Bally Bet, Resorts World, and WynnBET. No launch dates have been announced for the apps.
How Competitive Is New York In the Northeast Mobile Sports Betting App Market?
New York’s mobile sports betting success could rival the best months of both retail and mobile sports betting in neighboring New Jersey if the current betting levels are sustained, reports WGRZ-TV in Buffalo.
New Jersey currently has the highest-grossing sports betting market in the nation.
Still, New Jersey isn’t likely to be hurt by New York’s success, based on a Jan. 19 report from NY Sports Day’s Mark Ashenfelter. Data from location detection company GeoComply reported by NY Sports Day shows nearly 88 percent of New York mobile sports betting account holders are new to online sports betting and don’t have accounts in other states.
The GeoComply data indicates that both New York and New Jersey, and possibly other New England states, could sustain growth for some time.
“GeoComply’s data contains what is likely viewed as positive news for state governments in New Jersey, Pennsylvania, and Connecticut,” Ashenfelter reported. “At least, for now, it appears concerns that states bordering New York might face a sharp decline in users, and tax revenues were overblown”
More indicators of the strength of the New York mobile sportsbook market are expected to be made public on Jan. 23 when the NYSGC issues its next weekly mobile sports betting revenue report.
Caesars New York: Focused On The ‘Bettor Experience’
Caesars Digital co-president Chris Holdren said in a Jan. 21 statement to NY Sportsday that Caesars is excited about claiming the initial top spot for both mobile sports betting handle and GGR in the New York market. His company is now focused on perfecting the New York bettor experience, he said.
“As excited as we are, our work is just getting started to provide New York sports fans the best sports betting experience in the market,” Holdren said in the statement. “We know there is room to perfect our service offering in order to provide a product that exceeds expectations and we’re in New York for the long haul to do just that.”
Caesars Sportsbook’s sports betting partners in New York include Madison Square Garden, the New York Rangers and Knicks, the Buffalo Bills, the New York Mets, the New York Racing Association, and the Oneida Indian Nation.