After three weeks with handles above $300 million, New York sports betting operators took a step back in the week ending Aug. 25.
Combine a $298.8 million handle with a sportsbook hold that dropped more than three points week-over-week, and the Empire State experienced a pretty sluggish week with a light Week Zero college football schedule.
That’s about to change with a full week of collegiate action this weekend and the NFL starting next Thursday, but the New York Gaming Commission reported weekly revenue of $26.6 million — down 26.3% from the previous week — from the eight online sportsbooks.
The amount wagered dropped less than half of a percentage point week-over-week and was the third handle under $300 million in the last six weeks.
Close race
FanDuel took in $105.9 million, down just 1% week-over-week, and edged DraftKings for the top handle by just $765,000.
DraftKings, which generated a little over $105.1 million in wagers, was further behind in revenue. FanDuel still enjoyed an 11% hold that produced $11.7 million in profits, the third consecutive week above $10 million but down $3.5 million from the previous period.
DraftKings’ $9.4 million in revenue was below $10 million for the third time in the last four weeks, and the win rate was equal to New York’s average.
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Just one in the red
Bally Bet was the only sportsbook to finish the week in the red, losing $6,407 on a $1.9 million handle.
BetMGM bested Caesars for the third-highest handle at $31.4 million. Caesars was fourth with $26.1 million wagered for the week. However, neither operator reached $2 million in revenue
Fanatics turned in revenue of $1.2 million on a handle of $19.6 million while BetRivers came up shy of $700,000 of profit on an amount wagered that surpassed $7 million. Resorts WorldBet reached revenue of six figures on a $1.9 million handle.
