Sports Betting Operators in New York See Weekly Handle, Revenue Increase
For the second week in a row, DraftKings continued to dominate the online market, boasting a $176 million handle.
The Empire State’s eight online legal sports betting operators are settling nicely into football season.
The New York Gaming Commission reported a weekly handle of $428.3 million for the week ending September 24. That’s up 7% from the previous week and 42% from the same week in 2022.
Revenue from online sports betting sites also jumped 26.9% week-over-week to $35.9 million, marking a 100% spike year-over-year.
A hold of 8.4% marks the second consecutive week under double digits, but it’s up from the 7.1% of the previous week and is still turning serious profits.
The handle has surpassed $400 million for three consecutive weeks and revenue has stayed above $28 million during that period as well. That means sports betting in New York saw the public hold their own, despite the Jets and Giants failing to cover the spread for the second consecutive week.
No online sportsbook in the Empire State recorded a double-digit hold in the week ending Sept. 24.
DraftKings leads Empire State in handle
DraftKings paced the online field for the second consecutive week with a handle of $176 million. While this figure was slightly lower than the previous week, the company managed to maintain a hold rate of under 8%, mirroring its performance from the prior week.
Meanwhile, FanDuel enjoyed a 15% increase in wagers with a $160.1 million handle and recorded the top revenue for the week at $14.8 million, nearly a million more than DraftKings.
Caesars saw a 13% bump in handle with $43.4 million and revenue that jumped from $1.9 million in the previous week to $3.1 million in the Sept. 24 period. BetMGM finished fourth in the Empire State with a handle of $26.2 million, and its revenue nearly doubled from the previous week.
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