After two middling weeks, New York's eight mobile sportsbooks roared back to claim $36.2 million in gross revenue for the week ending Sunday, according to figures released by the state's Gaming Commission.
The digital operators were held to 6.8% and 8% holds for the weeks ending Aug. 4 and 11, the first time they were kept under 9% in back-to-back weeks since a three-week stretch from Feb. 25 to March 10. Led by FanDuel and DraftKings, the group bounced back with a 12.1% win rate against $300.2 million in handle.
Revenue was up 46.8% from the previous week despite handle slipping 2.5%. Since all eight operators finished with positive gross revenue for the week, estimated taxes totaled more than $18.4 million based on the state's 51% levy on mobile operators.
FanDuel Continues to Roll
The lighter summer handle makes it more difficult for operators to accumulate large sums of revenue, evidenced by FanDuel clearing $15 million for the first time since claiming $19.7 million in winnings June 23. Its 14.2% hold on $107 million worth of wagers marked the 14th time in the last 15 weeks it was above double digits, and the sixth time it was above 13% in that span.
DraftKings also enjoyed a solid bounce after two sub-par weeks with $12.8 million in revenue. It crafted a 12.3% hold — its best since a 13.1% figure attained May 26 — from $103.7 million in handle.
Fanatics Sportsbook took the final podium spot for revenue with $2.8 million, notching a 12.8% win rate as it surpassed $2.5 million in winnings for only the second time since succeeding PointsBet in March. Fanatics has posted a double-digit hold in eight of the past 11 weeks, topping 11% six times in that stretch.
Caesars ($2.4 million) and BetMGM ($2.1 million) rounded out the five operators with seven-figure hauls for the week. Caesars had a 9.6% hold against $25.6 million in handle, while BetMGM landed just shy of 7% while accepting $30.8 million worth of wagers.
Bally Bet slumps for a second straight week
Bally Bet had the lowest hold for the second straight week as its 1.9% mark was its worst since a minus-2% hold May 5 that led to paying out $33,600 above its $1.7 million handle. It finished with $27,300 from $1.4 million in handle as it moved above $275,000 in revenue for August.
BetRivers, meanwhile, saw an increase in revenue for the second straight week, claiming $711,800 from $7.8 million worth of wagers to fashion a 9.1% hold. Resorts World rounded out the group with $95,400 in winnings thanks to a 5.3% win rate from $1.8 million in handle.
The New York State Gaming Commission continues to review ESPN BET's application to bring all nine licenses back to action. ESPN BET acquired WynnBET's mobile licenses in February for $25 million, and PENN Entertainment CEO Jay Snowden had targeted a launch before the start of football season.
