Zona de Azar USA – New York March Sports Betting Revenue Up, But No Mobile Hurts
USA.- April, 08 2020 www.zonadeazar.com New York, which had posted its worst month in February since legal wagering began in the state, rebounded in March with $99,514 in sports betting revenue, according to figures posted by the New York State Gaming Commission.
Despite being the state hardest hit by the coronavirus and not having mobile sports betting, New York saw a slight turnaround in sports betting revenue from a loss of $179,593 in February. New York Gov. Andrew Cuomo closed casinos in the state on March 16, along with New Jersey and Connecticut.
February was the first month that New York posted a deficit from combined sports betting revenue at the state’s four commercial casinos. None of the casinos are near New York City. The state’s previous low was $780,418 in revenue in December.
Resorts World Catskills Casino and Rivers Casino & Resort showed the biggest sports betting revenue jump in March, according to the gaming commission. The state does not report handle.
Total gaming revenue — slots, table games, poker and sports betting — in New York dropped sharply in March amid coronavirus closures. Gross revenue fell from $54.57 million to $24.18 million from February to March at the four commercial casinos combined.
The sports betting numbers from the four commercial casinos in March:
- Rivers Casino & Resort (Schenectady): $81,883 (-$38,802 in Feb.)
- Del Lago (Waterloo), a DraftKings partner: $53,861 ($98,247 in Feb.)
- Resorts World Catskills (Monticello): -$3,304 (-$145,008 in Feb.)
- Tioga Downs (Nichols), a FanDuel partner: -$32,926 (-$94,030 in Feb.)
New York Sports Betting Revenue By Month 2020
| REVENUE | AVERAGE | |
|---|---|---|
| March | $99,514 | $24,879 |
| February | -$179,593 | -$44,898 |
| January | $1,943,351 | $485,838 |
| Total | $1,862,912 | $465,728 |
* Note: Handle not available. Figures derived from the state’s four commercial casinos: Tioga Downs in Nichols, Del Lago in Waterloo, Rivers in Schenectady and Resorts World Catskills in Monticello.
No Mobile Sports Betting in 2020 Fiscal Budget
Cuomo and lawmakers reached a budget agreement on April 1, but it did not include mobile sports betting revenue. Cuomo has been a staunch opponent of adding mobile sports betting in the state despite more and more New York bettors heading to New Jersey to place wagers.
State Sen. Joseph Addabbo has introduced bills legalizing mobile wagering in New York, but without the support of the governor they have had little chance of passing. A bill introduced at the start of the legislative session in January by Addabbo passed out of the Racing, Gaming and Wagering Subcommittee he chairs. But with the coronavirus affecting the legislative session, Cuomo and lawmakers concentrated on prioritizing state budget initiatives that focused on battling the pandemic.
Addabbo’s efforts have been aimed at keeping New York sports bettors wagering in state instead of in New Jersey. Some estimates show the New Jersey sportsbook market seeing a 25% bump from New York bettors. New Jersey reported $494.81 million in total handle for February, of which $436.49 million was in online handle. That’s 88.2% of the total betting market in New Jersey. In addition to New Jersey, mobile betting has thrived in other states, especially at Pennsylvania sportsbooks.
Sports Betting Numbers Will See A Sharp Decline
With all commercial casinos and pro sports leagues in the U.S. shut down by the coronavirus — most have been closed since mid-March — analysts expect March revenue numbers to be down and April numbers to be far worse.
Some states have other online gaming options besides sports betting. Online gambling is legal in New Jersey, Pennsylvania and Delaware. Online poker is legal in those states plus Nevada. West Virginia and Michigan have legalized online casinos with launch dates scheduled for later this year.
With more states looking at ways to fund health (including the coronavirus fight), education, transportation and environmental initiatives, legislatures could take a closer look at the potential tax revenue generated by online gaming.
After its sports betting revenue numbers in the last two months, maybe even New York would consider mobile sports betting and other online gaming options.
Editó: @_fonta www.zonadeazar.com
