Despite No Football, New York Sportsbooks Continue to Top $40M in Revenue

A streak of 16 consecutive weeks with handles of more than $400 million came to an end, but revenue rose 7.6% from the previous week to $48.2 million.

Feb 9, 2024 • 15:24 ET • 4 min read
Jalen Brunson NBA New York Knicks
Photo By - USA TODAY Sports

No football, no problems for New York’s nine online sports betting sites. 

The Empire State still saw revenue stay above $40 million for the fourth consecutive week, according to figures released by the New York Gaming Commission

With the Super Bowl still a week out and no football on a weekend for the first time in five months, the sports betting handle for the period ending Feb. 4 understandably fell 8.5% to $386.6 million. 

A streak of 16 consecutive weeks with handles of more than $400 million came to an end, but revenue rose 7.6% from the previous week to $48.2 million.

Sportsbooks dominated bettors with a hold of 12.5%, up two points from the previous week. It’s the third time in four weeks that Empire State operators reached a double-digit win rate. 

During the same week last year, New York sportsbooks recorded a handle of $331.3 million and revenue of $41.1 million.

Holding steady

FanDuel and DraftKings were at the forefront of the lower handle, higher win-rate trend for the week ending Feb. 4.

FanDuel took in a state-high $167.4 million in wagers, down 12% week-over-week. Revenue of $21.3 million was only $50,000 less than the previous week. 

DraftKings saw its handle of $126.2 million fall by nearly $18 million, but its revenue of $14.8 million was about $200,000 short of the previous period. 

Caesars just edged BetMGM for the third-best handle with $36.2 million, but BetMGM’s $33.1 million in wagers accepted produced revenue of $6.7 million, 47% more than Caesars. 

No Empire State operator lost money for the week while six sportsbooks increased their revenue from the previous week.

Gearing up

The American Gaming Association projects that more than $23.1 billion will be wagered on the Super Bowl by a record 68 million Americans. 

Eilers & Krejcik Gaming predicted that $1.25 billion in legal bets will be made on the Big Game in the U.S. this week. 

New York is the most lucrative sports betting market in the U.S. Nearly $20 billion has already been wagered in the Empire State in the first two months of 2024.

Super Bowl LVIII between the San Francisco 49ers and Kansas City Chiefs is scheduled for Sunday.

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