New York online sportsbooks have had a record-breaking month in terms of revenue generated. According to the New York State Gaming Commission, the state’s four licensed online sports betting operators reported a combined gross gaming revenue of $99.3 million for the month of September 2021. This marks a significant increase from the previous month’s revenue of $78.6 million.

The surge in revenue can be attributed to several factors, including the start of the NFL season and the return of college football. These two sports alone account for a significant portion of sports betting activity in the United States. Additionally, the continued expansion of online sports betting in New York has contributed to the increase in revenue.

In July 2019, Governor Andrew Cuomo signed legislation that legalized sports betting in New York. However, it wasn’t until January 2021 that the first online sportsbooks were launched in the state. Since then, the number of licensed operators has grown to four, including DraftKings, FanDuel, BetRivers, and Caesars Sportsbook.

The growth of online sports betting in New York has been a welcome development for both operators and consumers. Prior to the legalization of sports betting, many New Yorkers were forced to travel to neighboring states such as New Jersey to place bets legally. Now, they can do so from the comfort of their own homes.

The success of New York’s online sportsbooks has also had a positive impact on the state’s economy. In addition to generating revenue for the operators themselves, sports betting also generates tax revenue for the state. New York currently taxes sports betting revenue at a rate of 12%, which is expected to generate millions of dollars in tax revenue each year.

Looking ahead, the future of online sports betting in New York looks bright. The state is currently in the process of expanding its online sports betting market by issuing additional licenses to operators. This will not only provide consumers with more options but will also create more competition among operators, which could lead to better odds and promotions for consumers.

In conclusion, the record-breaking month for New York online sportsbooks is a testament to the growing popularity of sports betting in the state. With the start of the NFL season and the continued expansion of online sports betting, it’s likely that we’ll see even more growth in the coming months and years. As more states legalize sports betting, it’s clear that this industry will continue to be a major player in the world of online gambling.