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Record Month in New York Betting to Inspire Nationwide Change

New York betting

New York betting only needed 24 days to smash the previous record for gambling revenue in one month. The state’s handle of over $1.6 billion in January, its first month of operation, was unprecedented and completely redefined what is and is not possible in the gambling sector.

Other states will be eager to join in on the action after seeing the huge success of New York sports betting. Of the 50 United States, betting is legal in 33, operational in 30, and available online in 13. The rest are either in the discussion or, as of now, opposed to integrating betting practices.

As if there was not already a groundswell of support for sports betting, the Big Apple actually became the cherry on top. With record-breaking numbers and tax revenue in just one month, it’s hard to ignore the unavoidable fate of sports gambling.

New York Betting Re-Sets the Market

A couple of decades ago, Las Vegas, Nevada seemed like it would go unchallenged in gambling venues and opportunities. New York redefined this perception in less than one month and showed that older norms can be challenged.

Sports gambling is the hottest topic in America right now. Many states have also welcomed sports betting apps, further increasing betting availability.

The question that will be circulating now is which new state will push to follow in New York’s footsteps?

States to Watch

NY’s early success can be attributed to its white-collar mentality and population density. A state like Texas, which hasn’t legalized, could see the impact of betting and relate it to its own infrastructure. Texas is also like New York in the sense that it has tons of professional sports teams, increasing the draw of fans.

The financial benefits of sports gambling could also be attractive to a state like Delaware. The “First State” has the fourth-lowest tax burden in the USA and would seriously benefit from supplemental state income. Although they have retail locations up and running, New York’s impressive start could encourage them to accelerate the process of setting up online betting.

What’s Happening Next

Super Bowl LVI is the next major American sports event that could spill over into the New York betting sphere. This year’s title match is expected to smash the old record of $4.4 billion wagered on Super Bowl LV.

Although the game is on the West Coast and NY isn’t represented, it will be interesting to see New Yorkers participate in the festivities; it will also help other states gauge how metropolitan areas respond to large attractions.

Just like with anything in life, the betting craze needed a dominant leader to step in and take command. New York’s ridiculous first month did just that and has painted a picture of the existing opportunities in the market.

There has never been a better time for states to rally their constituents, increase excitement, and create funding. Expect New York to be at the forefront of everything that is to come in the sports betting world.

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