New York Sees Slight Decline in Sports Betting in February

There was a slight decrease in betting activity at New York’s sportsbooks in February 2022, but the state still saw the second-highest monthly total in US history.

Industry analysts say that the state’s sportsbooks, online and retail, accepted more than $1.5 billion in bets in February. The figure was down 12% from the month before, which was a US record of $1.7 billion.

Across the 28 days of February, online sportsbooks took in an average of $54.6 million per day, a fall from the $69.6 million per day over the 24 days of betting in January. The sportsbooks took in $82.4 million in gross revenue in February, down from $124.1 million in January.

FanDuel was at the head of the pack taking in $568.1 million in bets and generating $23.2 million in gross revenue. It was followed by DraftKings, which took in $387.6 million in bets and $30 million in gross revenue. Caesars saw $323.4 million in bets and $19.8 million in gross revenue.

Analysts explained that a small reduction was to be expected in February but that it doesn’t take anything away from the state’s impressive performance. “In less than two months, New York sportsbooks have generated more than $3 billion in wagers. That is a result that would have been difficult to fathom before January.”