New York Sports Betting: Weaker Turnover with NFL Week 2, but Revenue Rises

Numbers recently released by the New York State Gaming Commission show online sportsbooks handled $296.7 million in wagers during the week ended September 18, down 10.1% from the week ended September 11.

Last Updated: Sep 23, 2022 12:59 PM ET Read Time: 1 min
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The second week of the National Football League’s regular season failed to deliver the same sort of jolt to online sports betting in New York as the opening round of games, although bookmakers in the Empire State managed to do just fine for themselves. 

Numbers recently released by the New York State Gaming Commission show online sportsbooks handled $296.7 million in wagers during the week ended September 18, down 10.1% from the week ended September 11.

New York’s nine online sportsbooks still managed about $39.8 million in gross gaming revenue from mobile wagering last week, good for a hold of 13.4%. Last week’s revenue and win rate topped the week prior, when GGR and hold were $32.6 million and 9.9%, respectively. 

At any rate, New York bookmakers are seeing far more business than they were in the dog days of summer. The return of NFL regular season action has been a boom for the industry, as it is one of the busiest times of the year for operators.

Closing the gap

Among operators, FanDuel continues to lead the legal sports betting market in New York, but the gap between it and second-place DraftKings has narrowed considerably.

For the week ended September 18, FanDuel reported $109.2 million in mobile sports wagering handle and $17.6 million in revenue. DraftKings, meanwhile, reported almost $105 million in handle and $13.4 million in revenue.

Some of DraftKings’ success in New York may be due to its promotional approach, as its early-win offer for NFL games has drawn plenty of takers. However, the Boston-based company has since said it is mulling what to do with the campaign, which can pay out moneyline bettors if their team goes up by seven or 10 points. 

Running third in the rankings last week in New York was Caesars Sportsbook, which registered nearly $41 million in mobile handle and $5.3 million in revenue.

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