The Empire State’s eight legal sports betting operators saw their numbers take a huge tumble in the week ending August 13.
According to figures released by the New York Gaming Commission, the weekly handle dropped 29.5% to $223.75 million while revenue slipped a staggering 51% to $21.3 million — largely thanks to DraftKings not coming close to matching its previous record-setting week.
The online sportsbook went from boasting a handle of $161.4 million in the week ending August 6 to falling to $75.9 million in the latest period. That 53% decrease resulted in $6.8 million of revenue — the lowest for DraftKings in a month. Its previous week's win rate of 15.5% also dropped to 8.9%.
Meanwhile, rival FanDuel produced $10.5 million in revenue on a handle of $87.4 million and recorded a win rate of 12% for the third time in the last four weeks.
Mixed results
Overall, New York sports betting operators combined for a 9.5% hold, which was actually up from last week’s 8.1% win rate. Empire State sportsbooks also took solace in wagers being up 13% from the same week in 2022, although revenue remained virtually the same.
Caesars Sportsbook's handle only sank 8% to $26.4 million, but revenue dropped nearly $900,000 to $2 million in the week ending August 13. BetMGM also had similar results to the week before as it posted a higher handle of $19.15 million — up from $14.03 million in the previous week — but its revenue fell 33% to $1.2 million because of a 6.2% hold.
WynnBet, which pulled the plug on eight states but still has its New York operations “under review,” recorded a paltry hold of 3% with a handle of over $1.9 million. PointsBet wasn’t much better, recording a 3.4% win rate on a handle of $3.58 million.
