New York sports betting action finally cooled off some.
With total weekly wagering of $389.7 million for the week ending May 26, the Empire State’s nine online operators saw a streak of 15 consecutive handles and 31 of the last 32 weeks at more than $400 million come to an abrupt end.
The handle was the lowest since the week ending Feb. 2 and just the third under $400 million since early October.
A lighter week coincided with the New York Knicks being bounced from the NBA playoffs, although the Rangers are still in the race for the Stanley Cup.
Show me the money
Lesser action didn’t stop the revenue train, however.
According to figures from the New York Gaming Commission, operators posted an 11.7% hold to rack up $45.5 million in profits.
May has been great for sportsbooks, which have hauled in more than $160 million in the last three weeks.
That’s more than three of the last six full months in New York and puts the Empire State on pace to surpass April’s $183.8 million of revenue, the second-highest year-to-date.
DraftKings back on top
DraftKings recorded a strong week, leading New York sports betting operators in handle with $155.7 million and revenue with $20.4 million.
Despite finishing second, FanDuel still produced a double-digit win rate with revenue of $15.8 million on a handle of $149.3 million. Caesars came in third for the week with a handle of $33.1 million, while BetMGM finished fourth at $23.6 million.
Fanatics Sportsbook rounded out the top five with a handle of $14.9 million and produced a whopping 13.6% hold.
Only two operators, Resorts World Bet and WynnBet, saw a week-over-week increase in handle.
