Share
For New York’s legal online sportsbooks, December 2023 was the gift that kept on giving. In terms of the amount of money bettors lost on their platforms during the month, that total outperformed all of its predecessors.
December also maintained another impressive streak when it comes to legal online sports betting in New York. With the 2024 NFL playoffs about a week away, that streak could extend at least one more month.
New York sportsbooks’ wishlist granted
If any of New York’s licensed online sportsbook operators had a record month for gross revenue at the top of their holiday wish lists, the season delivered in 2023. According to the New York State Gaming Commission, December 2023 represented exactly that.
The total of $188.3 million in win for the sportsbooks in December is the highest amount in that category for any month when it comes to online wagering in New York. As a result, the state’s share of $96 million is also a single-month high. Those numbers do not include revenue from in-person wagering at casinos in the state.
Monthly revenue totals including wagering at physical sportsbooks in New York have been higher in the past. Thus, it’s important to distinguish that this accounts for online sportsbook win only. October 2023 had presented the previous record in this regard at $167.3 million.
Through December’s 31 days, players on New York’s licensed sports betting apps wagered over $2 billion. December represented the third consecutive month in which the betting dollars pierced that threshold. That amount also maintained New York’s place as the busiest state for legal online sports betting.
Only November 2023’s $2.1 billion represents a higher legal online wagering total for a single month in New York US history. New York is firmly on pace to set new records in terms of online sports betting activity and revenue for the current annual period as well.
Sportsbooks outperforming themselves in current fiscal year
The potential for a record fiscal year existed from the current period’s start in April 2023 but what was uncertain was by what margin the second such period since legal online sportsbooks launched in New York would set a new standard. So far, that gap looks like it should be significant.
For April through December 2023, betting dollars are up 18.8% while gross revenue has increased by 17.6% compared to the same period in 2022. As a result, the state’s share of that revenue represents an 18.1% increase.
January might balloon that growth even further with the NFL playoffs. While neither New Jersey team will be part of the postseason, the Buffalo Bills are in line for a spot in the tournament heading into their final regular-season game. That could fuel interest and perhaps push the streak to four months of at least $2 billion in bets.
If sportsbooks can replicate their win total from December, it will be a very happy New Year.
