Football season continues to fuel high weekly legal sports betting handles in New York.
The Empire State’s nine online sportsbooks combined to take in $516.6 million in the period ending Nov. 26, staying above the $500 million mark for the second consecutive week and third time in five weeks after only reaching that milestone once since before this run.
The New York Gaming Commission reported that revenue, however, slipped 47% week-over-week to $21.5 million during the football-heavy Thanksgiving week.
After recording a hold of 7.7%, the win rate fell to 4.2% in the week ending Nov. 26. It’s the lowest hold and first revenue under $25 million since the final week before football.
NFL bettors saw the New York Giants win outright as a field-goal underdog, but the Jets and Buffalo Bills lost and failed to cover.
FanDuel reigns supreme
FanDuel held its spot at the top of the pecking order in terms of handle for another week. The online sportsbook recorded $214.8 million in the amount wagered for the week ending Nov. 26. Handle was down about 18% from the previous week while revenue slipped 37.5% to $11.6 million.
DraftKings finished behind its rival with a handle of $186.9 million, and a hold of 4.2% only produced $7.9 million of revenue.
Struggling sportsbooks
Caesars saw its handle jump from $46.4 million in the previous week to $55 million during Thanksgiving week, but it only produced $494,510.
BetMGM also had a rough week, recording revenue of $395,877 on a handle of $29.4 million.
Resorts World Bet and WynnBet both turned in losing weeks. It marked the third consecutive red week for WynnBet.
In its second week since returning from a platform overhaul, Bally Bet saw a slight uptick in handle, going from $1.76 million to $1.84 in the amount wagered.
