💰 New Record in the USA 🏆 New York Hits $1 Billion in Sports Betting Revenue in 2024:

💰 New Record in the USA 🏆 New York Hits $1 Billion in Sports Betting Revenue in 2024:

🌟 Leadership in the Betting Sector

New York has solidified its position as the leader in online sports betting in the US, becoming the first state to surpass $1 billion in annual tax revenue.

➡️ Total Revenue (2024): $1.05 billion

➡️ Annual Growth:

📌 $860.7 million in 2023
📌 $693.1 million in 2022

📈 Expanding Market
Since its launch in January 2022, New York has demonstrated impressive growth:

➡️ Total Wagered (2024): $22.3 billion

➡️ Tax Rate: 51%

➡️ Gross Gaming Revenue (Last Week of 2024): $61.5 million

🏅 Top Operators in 2024

1️⃣FanDuel:
📌 Weekly Gross Revenue: $30.2 million
📌 History (Since 2022): $23 billion wagered and $2.43 billion in revenue.

2️⃣DraftKings:
📌 Weekly Gross Revenue: $165.6 million
📌 History (Since 2022): $19.39 billion wagered and $1.63 billion in revenue.

3️⃣Fanatics Sportsbook:
📌 Weekly Wagers: $43.5 million

⬆️ Contributions from Other Operators

📌 Caesars: $6.78 billion wagered since 2022

📌 BetMGM: $4.17 billion wagered since 2022

💡 Impacts and Outlook

📌 Public Revenue Generation: The high tax rate ensures a significant influx of resources to the state.

📌 Market Expansion: The sustained growth signals that New York will continue to hold its position as a key market for sports betting in the US.

#SportsBetting #BettingMarket #NewYork

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