The Empire State’s nine sportsbooks began a new fiscal year ahead of 2023.
The New York Gaming Commission reported an April handle of $1.96 billion, up 27.2% compared to the same month last year and 6% from the $1.85 million produced in March. April’s revenue of $183.8 million is the third-most ever for Empire State operators.
Behind a month highlighted by the beginning of the NBA and NHL playoffs involving New York teams, profits were up 32% year-over-year and 21% month-over-month.
It wasn’t a great month for bettors as sportsbooks increased their hold from 8.2% in March to 9.4% in April. The Empire State hauled in $93.7 million in tax revenue, marking the third time profits exceeded $90 million in the last five months.
Just shy of $2 billion
The April handle was New York's fourth-best figure since online wagering began in Jan. 2022, and is the most amount wagered this calendar year, passing the $1.95 billion generated in January.
The monthly handle also fell a few million dollars short of becoming the fourth $2 billion figure ever in the Empire State. The handle reached $2 billion for three consecutive months during the latest NFL season.
Staying alive
| Operator | April Handle | Gross Revenue |
|---|---|---|
| FanDuel | $780.5 million | $91 million |
| DraftKings | $737 million | $63.2 million |
| Caesars | $158.5 million | $10.4 million |
| BetMGM | $130.2 million | $9.1 million |
| Fanatics | $74.1 million | $5.6 million |
| BetRivers | $67.1 million | $3.3 million |
FanDuel led the Empire State in April, surpassing $700 million in handle for the seventh consecutive month. The $91 million in revenue was $18 million more than in March.
DraftKings eclipsed $700 million in the amount wagered for the first time since December and scored its highest profits since January. The $63.2 million of revenue was up 40.7% year-over-year.
Caesars has the third-best handle at $158.8 million but saw lesser profits in April compared to March, while BetMGM cleared $130 million in wagers and enjoyed an increase of more than $1 million.
Fanatics, which switched over from PointsBet at the end of February, generated $5.6 million, the highest ever in New York for the platforms. No Empire State operator finished April in the red.
High wagering in May
Sports betting in New York got off to a solid start this month as the handle for the week ending May 5 jumped 9.8% from the previous period to $484.1 million. However, operator revenue fell 41.5% to $23.1 million, and the hold was cut nearly in half week-over-week to 4.8%.
DraftKings had a wild week as the online sportsbook produced the highest handle at $217.2 million, its second-best total ever, but a 3.2% hold produced revenue of $7 million. FanDuel finished second with a $168.3 million weekly handle and first in revenue at $12.6 million.
