After three weeks with handles above $300 million, New York sports betting operators took a step back in the week ending Aug. 25.
Combine a $298.8 million handle with a sportsbook hold that dropped more than three points week-over-week, and the Empire State experienced a pretty sluggish week with a light Week Zero college football schedule.
That’s about to change with a full week of collegiate action this weekend and the NFL starting next Thursday, but the New York Gaming Commission reported weekly revenue of $26.6 million — down 26.3% from the previous week — from the eight online sportsbooks.
The amount wagered dropped less than half of a percentage point week-over-week and was the third handle under $300 million in the last six weeks.
Close race
FanDuel took in $105.9 million, down just 1% week-over-week, and edged DraftKings for the top handle by just $765,000.
DraftKings, which generated a little over $105.1 million in wagers, was further behind in revenue. FanDuel still enjoyed an 11% hold that produced $11.7 million in profits, the third consecutive week above $10 million but down $3.5 million from the previous period.
DraftKings’ $9.4 million in revenue was below $10 million for the third time in the last four weeks, and the win rate was equal to New York’s average.
Just one in the red
Bally Bet was the only sportsbook to finish the week in the red, losing $6,407 on a $1.9 million handle.
BetMGM bested Caesars for the third-highest handle at $31.4 million. Caesars was fourth with $26.1 million wagered for the week. However, neither operator reached $2 million in revenue
Fanatics turned in revenue of $1.2 million on a handle of $19.6 million while BetRivers came up shy of $700,000 of profit on an amount wagered that surpassed $7 million. Resorts WorldBet reached revenue of six figures on a $1.9 million handle.
