New York's eight mobile sportsbooks endured their slowest week of action during the period ending July 20 since last summer.
Key takeaways
- MLB All-Star break led to an expected drop in New York operators’ weekly handle.
- Gross revenue took a lesser fall behind an impressive 12% hold.
- FanDuel's action had a major fall, ending a year-long streak.
The New York Gaming Commission reported Friday that online sportsbooks generated a $266.6 million handle, the first under $300 million since late August 2024. Down 19% from the previous week, the latest amount bet is also the lowest since the same week in 2024, which produced $224.6 million in bets. That amount wagered fell 26% week-over-week a year ago.
A action drop was expected with Major League Baseball celebrating its All-Star break. The Home Run Derby, All-Star Game, just one weekend of regular-season action, and the British Open were the primary betting options during the seven days ending July 20. BetMGM said tournament favorite Scottie Scheffler capturing the final major of the year was a “good outcome” for the book.
Maybe that helped Empire State online operators feel less of a gross revenue sting, which decreased 8.3% week-over-week to $32.1 million. They were helped out by an impressive 12% hold up from the previous week’s 10.6% win rate.
Still, it marked the fourth consecutive week sportsbooks hauled in less than $40 million following a nine-week streak above that mark.
Falling off
DraftKings kept its 51-week streak of nine-digit handles intact, generating $100.5 million in wagers, about $22 million less than the previous week. FanDuel only took in $89.5 million in bets, its first handle under $100 million since last year’s All-Star break week.
However, FanDuel’s 16.2% hold turned into $14.5 million in gross income, the most of any operator for the week and on par with what the sportsbook hauled in over the last month. DK couldn't get above double digits in win rate, producing an 8.6% hold.
The $8.6 million in gross profit is the lowest weekly output for DraftKings since the last week of March, when bettors were on a successful NCAA tournament run.
Dominating other tiers
Fanatics Sportsbook dominated the next tier of New York operators during the week ending July 20. The online sportsbook generated $28.2 million in wagers, while Caesars reached $17.7 million and BetMGM $16.8 million. Fanatics also hauled in $3.2 million in gross revenue, a 14% week-over-week increase. The other two operators made a little over $2 million on the week.
BetRivers held onto sixth place with a $6.2 million handle. ESPN BET accepted $5.6 million in bets, $1.2 million less than the previous week. Neither operator reached $1 million in income, but BetRivers had the week's best win rate at 15%. Bally Bet generated a 7.5% hold on a $2 million handle.
