Online operators in the U.S.’s most lucrative sports betting market continued a negative trend during the week of April 20, producing a single-digit hold for the seventh time in the last eight weeks.
Key Takeaways
- New York’s sports betting handle fell 2.6% week-over-week as the NBA and NHL postseasons just got underway during the week ending April 20
- FanDuel’s weekly revenue dips $10 million in the latest period
- ESPN BET is the lone operator to see a week-over-week revenue increase.
The New York Gaming Commission reported that the nine mobile sportsbooks generated a $462.1 million handle but only turned a profit of $27 million, a 54.8% week-over-week decrease, because of a 5.8% hold. That’s nearly half of last week’s double-digit win rate.
Betting action fell off by 2.6% with college basketball complete and the NBA and NHL just beginning their postseasons toward the end of the April 20 period, so operators have a chance to reverse the win-rate trend in the coming weeks.
Yearly decrease
Gross revenue for New York sports betting operators was down 54.8% compared to the same week in 2024, and it marked the eighth time in the last nine weeks that Empire State sportsbooks hauled in less than $50 million.
In late March, they recorded one of their lowest win rates ever and made just $8.4 million in gross revenue on a handle of over $522 million.
A week after none of the online operators saw a week-over-week revenue increase, just one accomplished that feat during the April 20 period.
Significant drop-off
FanDuel generated a weekly-high handle of $180.8 million, up slightly from the previous week, but a 6.3% hold produced $11.4 million in revenue during the week of April 20, $10 million less week-over-week. It’s the second-lowest profit haul in the last 26 weeks, with the $4.3 million in revenue produced during a very customer-friendly March Madness week ranking ahead of the latest figure.
DraftKings also endured a revenue decrease, dropping from $15 million to $10.5 million during the week ending April 20. The online operator took in $150.4 million in wagers, a 6% decrease from the previous week.
ESPN BET increases revenue
Fanatics Sportsbook continued its third-place dominance in weekly handle, generating $40.7 million in wagers in New York. However, bettors held the operator’s win rate to 2.9%, leading to a 64.7% week-over-week revenue decrease.
BetMGM produced a similar handle to the previous week at $34.7 million but suffered a similar revenue drop-off as Fanatics. Caesars produced a 5% hold on $31.7 million to haul in $1.6 million in profit, its lowest in three weeks.
ESPN BET was the only New York online sportsbook to enjoy a week-over-week revenue increase, producing $809,953 from an $11.9 million handle, sixth-highest for the week. BetRivers generated $9.4 million in wagers and a 6% hold.
Bally Bet was the lone operator to come up short for the week, finishing $11,000 in the hole and in the red for the second time in the last five weeks.
