It’s been a wild winter for a plethora of reasons, but topping off the season are unusual investment trends, train robberies in LA, and putting ice on your face? In this week's edition of The Inflection Point, we break down some of the top trends we have been following.
On January 8th, 2022, New York became the 18th state to legalize mobile sports betting, joining its neighbors New Jersey and Pennsylvania. This week New York reported that its four mobile sportsbooks combined processed $603.1 million transactions, netting the state $48.2 million in gross revenue between January 8 and 16. Over the past two weeks, New York earned the title of having the most successful rollout of any state so far to legalize mobile sports betting.
The impact score for “sports betting” has grown steadily since the Supreme Court lifted the federal ban on sports betting back in 2018. Similarly, the trend for “New York Sports Betting” has grown over the same period and has exploded over the past month. Sports betting will continue to dominate consumer conversation as more states legalize sports betting and realize the tremendous revenue potential from the industry.