The Empire State’s weekly legal sports betting handle to took a hit for the second consecutive week to start May.
The New York State Gaming Commission reported that it took in $318.3 million in wagers in the period ending May 14, a 7% drop from the previous week.
With NBA and NHL slowing down, betting options have become more limited. However, the weekly hold came in at 11.6% as the nine New York online betting sites combined for $37 million in revenue. That was down 22.7% from the previous period, but still marked the fifth consecutive week of profits over $35 million.
Sportsbook giant posts impressive numbers
FanDuel pulled off a win rate of over 16% for the second consecutive week for the first time.
The New York sports betting giant was also the only online sportsbook in the state with a double-digit hold during the period ending May 14.
FanDuel hauled in $21.4 million of revenue, which was only down 3% from the previous week, on a handle of $127.7 million. It marked the fourth time in five weeks that the operator hit over $20 million in profits.
One operator takes a loss
DraftKings was second across the board in the Empire State with an 8.7% hold and revenue of $10.1 million on a handle of $116.4 million.
Caesars made about a million dollars less this period, with revenue of $3.1 million. BetMGM was one of three sportsbooks with a win rate above 8% for the week, with $1.6 million revenue on a $19.4 million handle.
Sports bettors hit PointsBet hard for the period, as the online operator came up $129,555 in the red on a handle of $4 million. It was the first time since the week ending December 18, 2022, that PointsBet recorded a loss.
