New York Witnesses Sportsbooks Achieve Third-Highest Weekly Revenue in History
For nine consecutive weeks, New York has amassed more than $400 million in wagers.
The Empire State’s nine online sportsbooks crushed the legal sports betting public in the week ending Dec. 10.
The New York Gaming Commission reported weekly revenue of $56.9 million on Thursday, up 76% from the previous period and the third best since online sports betting went live in Jan. 2022.
It also marked the third time since football began in September that Empire State operators hauled in $56 million or more in a single week. The all-time high of $62 million was set in the week ending Oct. 15.
The most recent hold of 13.9% marked an increase of over seven points compared to the previous week, coinciding with a 15% decline in the handle, which amounted to $410.2 million for the week ending December 10. Regardless, New York has taken in over $400 million in wagers in nine consecutive weeks.
Was the fade on?
Week 14 in the NFL ended up being huge for the three pro football teams located in the Empire State. The Buffalo Bills, New York Jets, and New York Giants all covered and won outright as underdogs. Yet, online sportsbooks still cleaned up against the betting public.
The outcome was likely influenced by the failure of three road favorites, the Detroit Lions, Houston Texans, and Minnesota Vikings, to cover the spread. Similarly, the Pittsburgh Steelers, Baltimore Ravens, and San Francisco 49ers, despite being home favorites, also fell short of covering the spread.
FanDuel, DraftKings revenue surpasses $20M
FanDuel led all operators with a handle of $176.9 million while DraftKings finished second at $145.8 million. Both sportsbooks hauled in over $20 million in revenue for the week ending Dec. 10, with FanDuel recording the highest weekly hold at 15.3%.
Meanwhile, Caesars came in third with a handle of $41.6 million while BetMGM was the only other operator to eclipse $20 million.
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