NY State Comptroller reports a rise in gambling helpline calls amid concerns over the impact of mobile sports betting on problem gambling in NY.
Penn Entertainment’s CEO says the operator and ESPN both want their new sportsbook to be available for customers in both states.
Rules unanimously OK’d by the New York State Gaming Commission must now go through a 60-day public comment period as part of the approval process.
GeoComply Solutions says Missourians attempted to access legal sportsbooks a quarter-of-a-million times to place wagers but were blocked from betting.
Under S1962, 16 mobile sportsbooks could be in NY by 2025. Operators would also be able to omit wagers placed using promo credits from taxable revenue.
Even with June lows, the Empire State collected $302.2 million in tax revenue in just under six months. That’s more than either NJ or PA has collected since 2018.
The ninth and final operator awarded a mobile sports betting license in NY launched on Thursday. High acquisition costs & a failed takeover bid kept it from launching sooner.
The operator stopped spending money to acquire players in New York in May. To make matters worse, BetMGM continues to be dominated by FanDuel in the Empire State.
In just four months, FanDuel has grown its revenue and grabbed more than 61% of the New York sports betting market, mostly at the expense of Caesars.
New York is on pace to generate a $19.3 million handle by the end of 2023, compared to $13.8 million for New Jersey and $8.4 million for Pennsylvania. To date, FanDuel tops in handle in NY and PA.
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