Following a summer of fluctuations, the Empire State’s eight legal sports betting operators found some consistency in the latest weekly numbers.
The New York Gaming Commission announced a handle of $233.7 million for the week ending August 20, marking a 4.5% increase from the previous period. The Empire State has now run off five consecutive weeks of handles totaling over $200 million.
Revenue went from $21.3 million to $21.6 million for the August 20 period, while the hold slightly dipped from 9.5% to 9.2% in the latest figures. It’s a stark contrast from the 51% revenue drop in the previous week, which had come following an 80% increase to start the month of August.
Handle was up 16% but revenue was down 12% compared to the same week in 2022.
DraftKings remains king
The rivalry between the most popular two online betting sites for sports betting in New York continues to heat up, as DraftKings and FanDuel had their second-closest weekly battle of the summer. DraftKings hauled in a handle of $89.3 million, which was up 18% week-over-week.
Meanwhile, FanDuel reported wagers of $87.7 million. Despite this, the operator still clinched the top spot in revenue by securing $8.9 million, driven by a 10.2% hold. This marked the conclusion of a two-week phase where FanDuel's revenue had exceeded $10 million.
On the other hand, DraftKings achieved a net gain of $7.3 million with an 8.2% hold, extending its remarkable streak of eight consecutive weeks with profits surpassing $5 million.
Caesars stays consistent
Caesars Sportsbook continued a run of eight consecutive weeks of handles over $25 million, compiling $25.9 million in wagers from the latest figures to finish third in New York. Caesars hauled in $2.3 million in revenue, which is in line with what it's mostly done this summer.
BetMGM had the fourth-highest weekly handle at $16.1 million and produced a higher hold of 10.2%, while BetRivers generated revenue exceeding $917,000 from an $8.5 million handle. WynnBet emerged as the leader in hold percentage for the week, boasting a 12.2% hold on a handle of $1.9 million.
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