Coming off the NFL’s Wild Card Weekend, sports betting operator revenue in the Empire State went over $60 million for the second time in three weeks.
The New York Gaming Commission announced that the nine online sportsbooks generated $62 million of profit during the week ending Jan. 12, a 62.7% week-over-week increase, despite not factoring in the Monday night playoff game.
An 11% weekly hold helped lead to $161.6 million in revenue over the last three weeks. Big money was made despite the latest handle of $561 million falling 6.6% week-over-week from the all-time high set during New Year’s.
Last year’s first round of the NFL playoffs produced similar results as sportsbooks recorded $67.3 million in revenue on a $445.7 million handle.
New York has only recorded one handle below $500 million over the last seven weeks and the 11th over that mark since football season began.
FanDuel dominates revenue
FanDuel’s $29.9 million accounted for 48% of New York’s total revenue during the week ending Jan. 12, thanks to a 13.7% hold. The market’s leading online operators went over $20 million in weekly profits for the eighth time since late October when the unprecedented run of NFL favorites winning ended.
Bettors also spent $218 million, making it the fourth consecutive week FanDuel has accepted at least $200 million in wagers.
DraftKings nearly matched the previous week’s handle with $191.3 million during the week ending Jan. 12, but the 10.6% hold was up four points from the previous week. That improved win rate led to $20.4 million in revenue, its highest total since the week ending Oct. 6.
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Only two make less
Seven of the other New York sports betting operators joined FanDuel and DraftKings in month-over-month revenue increases. Fanatics Sportsbook, which held its spot with the third-best handle ($46.3 million) was not one of them. The online operator’s $2 million December revenue was nearly $400,000 less than in November.
BetMGM finished with the fourth-highest handle of $43.9 million and revenue of $3.6 million grew 80% week-over-week. Caesars made nearly $1 million more, hauling in $3.56 million on a $34.6 million handle.
ESPN BET’s $10.6-million handle was less than $5,000 behind sixth-place BetRivers. However, ESPN BET went from an $8,674 profit the previous week to $1.1 million in the week ending Jan. 12.
Bally Bet generated $2.3 million in wagers but was the other operator to make less week-over-week. Resorts World Bet reported a handle of $1.6 million and a 62% week-over-week increase in revenue.
