Major League Baseball being back in full swing following the All-Star break led to a big jump in the Empire State’s sports betting handle and big revenue for the week ending July 28.
The New York Gaming Commission reported a weekly handle of $271.7 million, up 21% from one of the slowest sports weeks of the year.
The nine online sports betting operators saw revenue spike 36.7% to $34.3 million, and the 12.6% hold kept the operator win rate above 11% for the fourth consecutive week.
However, the period ending July 28 marked the first back-to-back weeks with handles below $300 million since last August. There’s a chance to turn that streak around soon with the NFL preseason starting and college football kicking off later this month.
Keeping the streak alive
FanDuel rebounded nicely, going from $86.8 million wagered in the previous week to $103.2 million bet in the week ending July 28. Revenue of $14.6 million led to a 14.1% hold, extending the online sportsbook’s double-digit win rate streak to 12 weeks.
FanDuel also crossed $5 billion in handle since the start of 2024. Meanwhile, DraftKings stayed under $100 million in the amount wagered for the second consecutive week with a handle of $97 million, but revenue jumped 48% week-over-week to $11.4 million.
Strong trio
Caesars finished third in the Empire State with a $23.1 million handle, while BetMGM reached $19.2 million wagered. Fanatics wasn’t far behind with a handle of $17.9 million.
All three online operators enjoyed weekly revenues of over $2 million each, along with double-digit holds. BetRivers’ $6.7 million handle made it the only other mobile sportsbook to cross $1 million in wagers for the week.
No operator fell into the red.
