The Empire State’s nine sports betting operators are finding their groove in November following a rough run in mid-October.
The New York Gaming Commission reported a handle of $527.2 million in the week ending Nov. 10, down 5.6% from the previous period but the fourth consecutive week with wagers above $500 million for the first time ever.
A 10.5% hold during Week 10 in the NFL led to $55.2 million in gross revenue, a 5.5% increase.
It’s the first time since wagering went live in January 2022 that Empire State mobile sportsbooks combined to produce more than $50 million in revenue for three consecutive weeks.
Compared to Week 10 in 2023, dollars wagered were up 16% while revenue increased 25.7% year-over-year.
FanDuel produces a high hold
FanDuel led all New York sports betting operators during the week ending Nov. 10 with a $215 million handle, the fourth consecutive week the online operator surpassed $200 million. FanDuel’s 11.3% hold produced $24.4 million in revenue.
DraftKings was unable to produce a double-digit win rate off of a $167.1 million handle, down from the $183.3 million generated the previous week. Revenue of $15.4 million was down slightly from the $16.9 million in the previous week, but it marked the third consecutive period of at least $15 million in profits.
Big week for BetMGM
Not only did BetMGM finish in the black for the third consecutive week after losing in the week ending Oct. 20, the online operator hauled in $4.9 million in revenue, its second-best ever.
BetMGM also generated a $43.5 million handle, third-best in New York for the week and just a little over $100,000 more than the previous period.
Fanatics wasn’t far behind with a handle of $39.8 million, while Caesars also had a strong week with $4.1 million in revenue from a $37.7 million handle.
ESPN BET’s $9.6 million handle was seventh among operators behind BetRivers’ $10.9 million, but the PENN Entertainment platform produced $1.4 million in revenue, the most since launching in New York in late September.
