The numbers are in for New York sports betting in 2023, and they do not disappoint. Players in the state wagered more than $19.6 billion on sporting events last year, which translated to almost $1.8 billion in revenue. During the 12-month period ending on March 31st, total wagers in the Empire State surged by almost 20%, reaching $16.4 billion, and surpassing the figures from the previous fiscal year. This milestone also marks the highest annual expenditure for online sports betting recorded in any state regulating the activity in America. Additionally, the gross gaming revenue experienced a remarkable year-on-year increase of…

When sports betting in New York was passed with a 51% tax rate, we knew it would lead to problems. Now, both DraftKings and FanDuel New York are saying they could abandon the market if that tax rate isn’t lowered to something more realistic. The CEO of DraftKings, Jason Robins, described the situation as “unsustainable” while speaking at a recent joint legislative hearing. He pointed out that while the tax rate is already the highest in the nation, it’s even worse than it appears since fees and licensing make the state’s effective tax more than 70%. The President of FanDuel,…

Well, that didn’t take long. New York sports betting is already facing some new restrictions barely a year into regulation. And those new restrictions have a lot to do with what This Week in Gambling has been warning folks about for the past several months… but we’re not gonna say “we told you so.” First up, one lawmaker in the state is calling on gambling regulators to put an end to what they call predatory sportsbook bonuses. The terminology of their proposed legislation sounds like a page from the United Kingdom, where other politicians have expressed similar concerns over the…

Technically, New York sports betting didn’t operate for the entire calendar year of 2022. Their official launch date was January 8th, meaning that there was one week where they were not up and running… but it didn’t matter. The state was still making sports betting news by the end of their first month in business, and they never looked back after that. And by the time the end of the year finally hit, they had handles $15.8 billion in wagers. And that translated to over $1.3 billion in revenue. Some may remember that New York sports betting has one of…

This week’s gambling news finds amazing records for mobile sports betting in New York, even with an insane tax rate. Not to be outdone, Hawaii is now considering sports betting with an even higher tax rate! And in case you missed it, more sports betting has launched in Louisiana! Welcome my friends to another edition of This Week in Gambling, where we have sports betting news from Louisiana and Hawaii, of all places! But we begin with a record-breaking update for mobile sports betting in New York! This week’s big story started a little over three weeks ago when mobile…

As the NFL playoffs come upon us, expectations for the launch of New York mobile sports betting grow. We were promised that the state would have the activity up and running in time for the Super Bowl, and it looks like Saturday January 8th will be the day! Earlier this week, prominent New York Senator Joe Addabbo said that mobile sports bets in his state are “imminent”, and may even be available for some playoff games. So, the era of betting on sports in the Empire State, with all the lofty expectations that brings, looks to be a “go” for…