Latest Esports News

FanDuel Extends Roll In New York With $15 Million In Weekly Winnings


FanDuel extended its streak of double-digit holds in New York to six weeks after the state’s Gaming Commission reported $32.2 million in mobile sports betting revenue for the week ending June 16 on Thursday.

The leading sports betting app in the Empire State for handle and revenue crafted an 11.1% hold from $137.7 million in handle for the week, resulting in $15.2 million in winnings. The six-week run of win rates above 10% is FanDuel’s longest since doing so in seven consecutive weeks from Oct. 9-Nov. 20, 2022.

The nine digital operators combined for an 8.9% hold from $362.8 million worth of accepted wagers. Handle was up 5% from the previous week while revenue declined 8.4% as the hold for the week ending June 9 was 1.3 percentage points higher. All nine sportsbooks finished with positive revenue, resulting in an estimated $16.4 million in state taxes.

FanDuel Also Close to $1 Billion in Taxes

FanDuel also has a six-week stretch of at least $15 million in revenue, its longest since doing so for nine straight weeks from Dec. 10-Feb. 4. It is $65.1 million shy of $2 billion in all-time revenue in the Empire State, and the state’s 51% tax on those winnings has left it $13.2 million shy of $1 billion in receipts paid to the state.

To put that figure in perspective, consider Pennsylvania is the only state with commercial sports betting that has generated more than $500 million in tax revenue with $582.9 million.

FanDuel’s eternal rival DraftKings had an eight-figure revenue haul for the 15th time in 18 weeks, reaping $11 million in winnings from $125.7 million in handle, good for an 8.8% win rate. It was also the fifth time in six weeks DraftKings had an 8.8% or higher hold.

Caesars, BetMGM, and Fanatics Sportsbook were separated by $65,952 for the Nos. 3-5 spots for revenue as all three eclipsed $1.6 million in weekly winnings. Caesars came closest to $1.7 million, falling $17,525 shy, while Fanatics had the highest win hold of the trio at 10.8%.

Sign Up For The Sports Handle Newsletter!

BetRivers came within $325,800 of BetMGM for the No. 4 spot for handle as its $24.9 million worth of accepted wagers was its third-highest weekly total in New York. It failed to capitalize on the increased action — BetRivers had a sub-3% hold for the second consecutive week and finished with $712,200 in winnings.

Rounding Out the Group

Bally Bet had the top hold of the week at 12.8% in keeping $158,800 of its $1.2 million handle.

Resorts World topped $2 million in handle for the third time in five weeks and crafted a 6.4% win rate to claim $131,200.

WynnBET continues to lag behind, making $18,000 for the week with a 5.3% hold against $340,600 worth of bets accepted. It was the 39th consecutive week WynnBET failed to meet the 7% hold considered the industry standard dating back to an 8.1% win rate attained for the week ending Sept. 17.

Read the original article Here

Visit the Association of Certified Gaming Compliance Specialists Here

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy