Sports Betting Operators See Weekly Numbers Slip in New York

Sportsbooks in New York saw their numbers fall to begin June, with bettors eating into the hold significantly for the week ending June 4.

Last Updated: Jun 9, 2023 9:31 AM ET Read Time: 4 min
DJ LeMahieu MLB
Photo By - USA TODAY Sports

Legal sports betting customers in New York bounced back from a tough run during the period ending June 4. 

A week after seeing the Empire State’s nine online sport betting operators record a 13% hold, that number fell to 8.4% in the New York Gaming Commission’s latest report. 

Betting sites saw their $299.9 million handle rise 14.5% week-over-week, but it marked the second consecutive period under $300 million in wagers. The revenue fell nearly 40% to $25.3 million. The week ending June 4 marked just the second time in the last eight weeks, but the second in the last three, that revenue fell below $35 million.   

Year-over-year numbers, however, are up. During this period in 2022, New York's operators posted a handle of $270.6 million with revenue of just under $11 million. 

Big names take a step back

FanDuel recorded a handle of $121 million for the week, which was the best in New York sports betting and up from the previous week’s $114.3 million. 

However, after enjoying a robust win rate of 17.3% last week, the sportsbook giant’s hold fell to 10% after posting revenue of $12.1 million, its third straight under $20 million. 

DraftKings was second in the Empire State during the period ending June 4 with a handle of $105 million, up 25% week-over-week. FanDuel’s top rival fell farther behind in revenue, though, with $8.3 million as the hold dropped from 10% to 7.9%.

Caesars and BetMGM both posted win rates under 7%. Caesars made $2.2 million on a handle of $34.6 million while BetMGM had a handle of $23.2 million with revenue of $1.6 million. 

Wynn Interactive was the only New York operator to finish in the red after it took in $1.6 million in wagers and lost $64,794 after payouts. 

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