New York’s online legal sports betting operators set a record for the week ending Oct. 15, and it was a bad one for the Empire State’s bettors.
The New York Gaming Commission announced a new state revenue high of $62 million, eclipsing the $57.5 million made in the week of Jan. 22.
Revenue jumped 100.6% from $30.9 million in the previous week.
The record-setting week for sports betting in New York resulted in an absurd 15.4% hold, also an all-time high for the eight online sportsbooks, on a handle of $402.7 million, up 3.6% week-over-week.
It marked the fifth handle of more than $400 million in the last six weeks as football season continues to be a boom for Empire State operators.
This particular week, the best since online sports betting sites went live in January 2022, belonged to the sportsbooks, which never had a week like this during the last football season. The highest revenue when both NFL and college football were going in 2022 reached $44 million. That previous high came during the NFL playoffs when college football was complete.
FanDuel, DraftKings dominate revenue
FanDuel had a massive week that made up nearly half of the overall revenue in New York for the week ending Oct. 15. The online sportsbook led the Empire State with profits of $29.6 million, a high for FanDuel, on a handle of $160 million for an 18.5% hold.
DraftKings was second with a handle of $145.9 million and revenue of $23 million, its third weekly profit over $20 million this calendar year.
Those two sportsbook giants combined for 84% of overall revenue in New York for the week.
Caesars was third with a handle of $42.5 million and a win rate of 11.5%. BetMGM was responsible for $3.1 million of revenue on a handle of $22.3 million.
BetRivers, run by Rush Interactive, took in a $22.7 million handle, the best since it opened up shop in New York.
