The New York State Gaming Commission reported the eight mobile sportsbooks in operation claimed $43.5 million in revenue for the week ending Sunday, a notable falloff from the previous week's near-$70 million haul.
Handle rose 0.4% to $480.1 million, which was also 12.1% higher compared to action during Week 3 of the NFL season last year. The still-healthy 9.1% hold was 5.4 percentage points lower than last week, dragged down by both BetMGM and Fanatics Sportsbook posting sub-4% win rates.
Revenue plunged 37.1% compared to the week ending Sep. 15, though it did represent a 21.2% increase versus Sep. 24, 2023, which was when wagering took place for Week 3. All eight operators finished with positive gross revenue, leading to an estimated $22.2 million in state taxes.
FanDuel Cools Off, DraftKings Takes Handle Crown
After hammering the public for $35.1 million in its best week for mobile betting in the Empire State, FanDuel tailed off last week for $19.3 million. It was still enough to lead the group of eight in revenue, and the digital juggernaut still had an 11% hold from $175.5 million worth of wagers placed.
Depending on how the NYSGC counts revenue — August ended on a weekend and figures for the final week may be included in September's figures — FanDuel has an outside chance to reach $100 million in monthly revenue. It has accumulated $82.8 million in the last four weeks while attaining a 12.1% win rate in that span. FanDuel has reached nine figures in revenue once in New York, notching a state-record $109.2 million in January.
DraftKings took top honors for handle for the second consecutive week at $181.6 million. It was the third straight week DraftKings topped $180 million, and a solid 9.6% hold resulted in $17.4 million in revenue.
The $41 million in winnings the last two weeks is its highest for back-to-back weeks since collecting $51.5 million May 12-19, which included a state-best $36.5 million in revenue May 12. DraftKings also surpassed $500 million in revenue for the calendar year while edging over $5.6 billion handle.
BetMGM, Fanatics, and Caesars were separated by $1.5 million for handle for the third through fifth spots. Caesars had the highest revenue of the trio at nearly $3 million, crafting an 8.3% hold from $35.6 million handle.
Fanatics had its second-best handle since entering the Empire State at $37 million, but its 3.7% win rate — its lowest since succeeding PointsBet at the end of February — was the lowest of the week and limited it to $1.4 million in revenue. BetMGM was barely better at 3.8%, providing $1.4 million in winnings against $37.2 million worth of wagers.
BetRivers had a 9% hold or better for the seventh time in 11 weeks, claiming $891,900 from $9.3 million handle. Bally Bet collected $163,200 in revenue from a 6.7% win rate against $2.4 million worth of wagers, and Resorts World rounded out the group with a 6.6% hold to win $93,800 of the $1.4 million in accepted bets.
