NJ betting revenue soaring as New York sportsbooks struggle

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While November was another record-setting month in the New Jersey sports betting industry, the numbers in New York were not so good. Sports betting revenue in the Empire State fell by nearly half, with commercial sportsbooks recording a month-on-month decrease of 41% from October.

New York had a revenue stream of $2.2 million in October, but that number dropped to $1.3 million in November. The alarming thing about that trend is that November is usually one of the busiest months of the year for sportsbook operators.

According to a report from the New York State Gaming Commission, the four upstate casinos had very disappointing revenue streams in November. The casinos have millions in backing and offer players many things, but they have not been able to turn a big profit.

SEE ALSO: NJ WARNS NY ABOUT RISKS OF ONLINE GAMBLING

The main problem for New York’s casinos is their location. The three tribal sportsbooks and four commercial casinos are situated well away from major metropolitan areas, which makes it difficult for any of them to attract customers.

On the other side of the coin, New Jersey sports betting is thriving. One of the main differences between NJ and NY is that the former has mobile betting and the latter does not. People can place bets from anywhere in the Garden State, which is why many New Yorkers, especially from New York City, head across the border to make sports wagers.

The NY Gaming Commission is currently conducting a study to find a way to allow mobile wagering at the four upstate casinos in New York. However, the results of that study are not expected to be released before May of 2020.

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