Coming off the NFL’s Wild Card Weekend, sports betting operator revenue in the Empire State went over $60 million for the second time in three weeks.
The New York Gaming Commission announced that the nine online sportsbooks generated $62 million of profit during the week ending Jan. 12, a 62.7% week-over-week increase, despite not factoring in the Monday night playoff game.
An 11% weekly hold helped lead to $161.6 million in revenue over the last three weeks. Big money was made despite the latest handle of $561 million falling 6.6% week-over-week from the all-time high set during New Year’s.
Last year’s first round of the NFL playoffs produced similar results as sportsbooks recorded $67.3 million in revenue on a $445.7 million handle.
New York has only recorded one handle below $500 million over the last seven weeks and the 11th over that mark since football season began.
FanDuel dominates revenue
FanDuel’s $29.9 million accounted for 48% of New York’s total revenue during the week ending Jan. 12, thanks to a 13.7% hold. The market’s leading online operators went over $20 million in weekly profits for the eighth time since late October when the unprecedented run of NFL favorites winning ended.
Bettors also spent $218 million, making it the fourth consecutive week FanDuel has accepted at least $200 million in wagers.
DraftKings nearly matched the previous week’s handle with $191.3 million during the week ending Jan. 12, but the 10.6% hold was up four points from the previous week. That improved win rate led to $20.4 million in revenue, its highest total since the week ending Oct. 6.
Only two make less
Seven of the other New York sports betting operators joined FanDuel and DraftKings in month-over-month revenue increases. Fanatics Sportsbook, which held its spot with the third-best handle ($46.3 million) was not one of them. The online operator’s $2 million December revenue was nearly $400,000 less than in November.
BetMGM finished with the fourth-highest handle of $43.9 million and revenue of $3.6 million grew 80% week-over-week. Caesars made nearly $1 million more, hauling in $3.56 million on a $34.6 million handle.
ESPN BET’s $10.6-million handle was less than $5,000 behind sixth-place BetRivers. However, ESPN BET went from an $8,674 profit the previous week to $1.1 million in the week ending Jan. 12.
Bally Bet generated $2.3 million in wagers but was the other operator to make less week-over-week. Resorts World Bet reported a handle of $1.6 million and a 62% week-over-week increase in revenue.
