Spooky Season has arrived for New York's sportsbooks.
The New York Gaming Commission reported weekly revenue of $20.6 million on a handle of $483.8 million, the fourth lowest profits ever for a handle over $400 million.
However, the other three lowest weeks occurred during Super Bowls, meaning this was one of the best runs ever for bettors in the Empire State during football’s regular season.
The 4.2% hold is the worst produced by New York’s online betting sites since 3.5% in the week ending April 9.
It didn’t help the Empire State’s sportsbooks that both the New York Mets and Yankees won division series and advanced to the championship series in the MLB playoffs.
In the NFL, favorites covered 10 of the 13 games between Thursday and Sunday.
Similar to last year, the NFL’s Week 6 produced $28.4 million on a $400.5 million handle.
Revenue during the week ending Oct. 13 fell a whopping 60.7% week-over-week, while the amount wagered dropped a more modest 2.5% from the previous period.
Profits plummet
FanDuel led all New York mobile operators with a handle of $184 million, nearly identical to the previous week’s $184.1 million. However, revenue of $13.9 million fell from $19 million. It was FanDuel’s lowest week of profits since the end of August.
DraftKings finished second with a handle of $173 million, ending a streak of five consecutive weeks over $180 million. The online operator took a major revenue hit as a 3.1% hold produced $5.3 million, down 76% week-over-week.
Bettors also hit New York newcomer ESPN BET hard during the week ending Oct. 13. Having just launched late last month, the PENN Entertainment platform hauled in just $189,741 in revenue on an $8.7 million handle. The 2.2% hold is the worst week yet for ESPN BET, which finished seventh among New York operators in handle.
Rough run
The week was even worse for Fanatics Sportsbook, which had the third-best handle at $37.8 million, but the online operator suffered a $1.4 million loss.
BetMGM generated the fourth-most bets in the Empire State with $33.9 million. That edged Caesars by a little over $2 million, but BetMGM got crushed in the revenue battle, barely eeking out a six-figure profit after producing a 1.8% hold. Caesars hauled in $1.6 million.
BetRivers claimed a little over $500,000 on a $10.5 million handle, while Bally Bet also finished in the black. Resorts World wasn’t so fortunate, ending the week with a $221,273 loss on a $1.8 million handle.
