New York sports betting operators are ahead of last year’s schedule.
In 2023, it took until the end of October for the Empire State’s nine online sportsbooks to generate a $500 million weekly handle during football season.
This year, the New York Gaming Commission reported $516.8 million was wagered during the week ending Sept. 29. The Empire State produced four of those kind of handles during an eight-week run late in the 2023 season.
The amount wagered was up 31.3% year-over-year and 7.6% week-over-week. The Sept. 29 handle also surpassed $500 million in the Empire State since the week ending May 12 and marked the fifth consecutive week of more than $400 million in the amount wagered.
New York’s operators combined produced $52.7 million in revenue, up 21.1% from the previous week despite the high number of NFL upsets tailing off some in Week 4. The weekly sportsbook revenue was the fourth-highest of 2024 and the third consecutive of more than $40 million.
The 10.2% hold was up from the 9.1% produced in the previous week.
Welcome to New York
ESPN BET launched in New York in time for the weekend’s college football and NFL games.
The online sportsbook generated $3.04 million in wagers and took home $165,673 in three days behind a 5.4% hold.
ESPN BET acquired WynnBet’s operating license for $25 million earlier this year. While PENN Entertainment was hoping to launch its platform a month earlier, it took extended time to receive regulatory approval.
ESPN BET, which gives PENN a 15% population presence increase, took in more wagers in a weekend than Bally Bet and Resorts World Bet did in an entire month.
FanDuel records high hold
FanDuel's handle edged DraftKings for weekly handle honors by less than $2 million. A 12.2% hold on FanDuel’s $198.2 million handle produced $24.2 million, up 26% week-over-week.
DraftKings generated a handle of $196.3 million, its second-highest ever behind the $218.1 million wagered with the online sportsbook in the week ending Dec. 17, 2023. It was the fourth consecutive week with a handle of more than $180 million. An 8.9% hold produced $17.4 million in revenue, nearly identical to the previous week.
New York’s market-share leaders combined for 76% of the total handle.
Fanatics soars
All nine New York sports betting operators produced positive revenue for the week ending Sept. 29.
Fanatics Sportsbook surpassed both BetMGM and Caesars in weekly handles with a total of $39 million wagered.
It wasn’t by much as BetMGM reached $37.2 million for fourth place for the week while Caesars generated $34.7 million and recorded the highest hold to produce $3.8 million.
BetRivers hauled in $900,000 in revenue on a handle of $8.9 million for the week.
