Online Sports Betting See Small Weekly Increases in New York

Mobile sportsbooks took in $298.7 million in wagers during the week ending June 11, down just 0.4% from the previous period — but hold that went from 8.4% to 8.7%.

Brad Senkiw - Contributor at Covers.com
Brad Senkiw • News Editor
Jun 15, 2023 • 18:32 ET • 4 min read
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The Empire State’s nine online legal sports betting operators saw their week-over-week win rate rise slightly despite a small drop in handle. 

The New York Gaming Commission reported that mobile sportsbooks took in $298.7 million in wagers during the week ending June 11. That was down just 0.4% from the previous period but the state saw its hold go from 8.4% to 8.7%. Revenue of $26 million slightly topped the higher-handle week’s previous profits of $25.3 million. 

Despite a slower period in the sports betting calendar, the Empire State’s sports betting sites have found some consistency. Since revenue slipped below $20 million during the week ending May 21, New York has stayed above $25 million for three consecutive weeks.

The latest week outperformed the same period of 2022 when operators produced revenue of $21 million on a handle of just over $248 million.   

Battle for supremacy 

FanDuel suffered a drop of nearly $17 million in handle for the week, but the sportsbook giant produced a higher revenue. FanDuel took in $104.8 million in wagers during the period ending June 11 and made $12.2 million in revenue — about $170,000 more than the previous week. The 11.6% hold was improved from last week’s 10% win rate, but it’s still far off from the 17.3% that FanDuel enjoyed in the final week of May. 

DraftKings also posted better returns against sports bettors than the previous week when the online sportsbook produced a revenue of $9.1 million on a handle of $131.1 million, which was up nearly 25% week-over-week. Not only did DraftKings top its rival in handle, it also marked the first time the sportsbook took in over $130 million in wagers since early May.  

Caesars produced the third-highest handle at $32 million while bringing in revenue of $2.4 million, while BetMGM saw its handle ($16.4 million) fall below $20 million for just the second time since early Sept. 2022.

PointsBet struggled mightily against bettors as it held just a 5.5% win rate with $238,843 in revenue on a handle of $4.3 million. Rush Street Interactive suffered even more, producing a 4% hold on over $7 million of wagers. 

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Brad Senkiw - Covers
News Editor

Brad has been covering sports betting and iGaming industry news for Covers since 2023. He writes about a wide range of topics, including sportsbook insights, proposed legislation, regulator decision-making, state revenue reports, and online sports betting launches. Brad reported heavily on North Carolina’s legal push for and creation of online sportsbooks, appearing on numerous Tar Heel State radio and TV news shows for his insights.

Before joining Covers, Brad spent over 15 years as a reporter and editor, covering college sports for newspapers and websites while also hosting a radio show for seven years.

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