New York’s online sports betting operators have settled into a nice place following football season.
The Empire State’s nine sportsbooks generated a handle of $445.3 million for the week ending March 17, marking the 22nd time in the last 23 weeks that it’s reached $400 million in wagers.
The New York Gaming Commission reported revenue of $40.2 million for the week, the highest since the week before the Super Bowl and the second time in three weeks of over $40 million in profits.
The week-over-week numbers showed slight gains, with the handle increasing by 1.9%, revenue jumping by 8.8%, and the hold rising by half a point to 9%. However, operators continue to profit consistently as NBA and college basketball dominate the sports betting market during this time of the year.
FanDuel stays on top
FanDuel led the Empire State with a handle of $178.9 million and revenue of $21.3 million, thanks to a nearly 12% hold. The strong week put the online sportsbook over $2 billion in wagers accepted and $200 million in revenue in 2024.
DraftKings finished second in New York for the week with a handle of $148 million, while revenue fell from $13 million in the previous to $11.3 million in the latest period.
Caesars had the fourth-highest handle at $48.9 million, with BetMGM following with $30 million in wagers.
Staying out of the red
Not a single New York operator reported a loss for the week.
BallyBet bounced back from a week in the red with a profit of $127,955 on a $2.7 million handle. Rush Street Interactive, which is reportedly mulling a potential sale, generated a handle of $20.3 million, its largest since mid-November.
Fanatics Sportsbook, which bought PointsBet’s U.S. holdings last year and fully migrated the platform earlier this month, reported seven-figure revenue for just the fifth time for either operator in the Empire State.
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