Latest Esports News

FanDuel Helps New York Weekly Mobile Revenue Top $50 Million Again

28

The New York State Gaming Commission reported $50.3 million in mobile sports betting revenue for the week ending May 19 on Thursday, marking the first time operator winnings in the Empire State topped $50 million in back-to-back weeks since sports betting apps became available in January 2022.

Coming on the heels of a record $70.9 million haul generated for the week ending May 12, New York’s nine digital sportsbooks combined for an 11.3% hold on $445.9 million worth of bets placed. The $50.3 million in winnings ranked eighth highest in state history. FanDuel led the charge with a robust 15.1% win rate to claim $27.2 million, its fourth-best week out of 124 in New York.

Six of the nine operators finished with at least $1 million in winnings, and four posted holds of 10% or higher. Fanatics Sportsbook and Resorts World also had top-five all-time revenue totals, and since all nine operators finished with positive revenue for the week, the state reaped an estimated $25.6 million in tax revenue.

All-time mobile handle in New York surpassed $44 billion with the May 19 weekly report.

FanDuel keeps chugging right along

Though DraftKings grabbed the No. 1 overall weekly revenue spot with its $36.5 million take for the week ending May 12, FanDuel dominates the rest of the leaderboard for weeks with $25 million or more in winnings.

The digital leviathan now has eight of the 11 all-time occurrences in New York mobile operator history with last week’s $27.2 million and posted holds of 13.5% or higher in back-to-back weeks for the first time since May 7-14, 2023.

FanDuel also crossed a series of benchmarks with last week’s action: $18 billion in all-time handle; $950 million in all-time taxes paid to the state of New York; and $400 million in year-to-date revenue. The $18 billion worth of accepted wagers would rank sixth nationally on its own.

Sign Up For The Sports Handle Newsletter!

DraftKings followed up its record week with a more modest $15 million in revenue, fashioning a win rate of nearly 9% from $167.6 million in handle. It moved within $7.1 million of $300 million in winnings for the calendar year after claiming $218 million through the first five months of 2023.

Caesars topped $50 million in year-to-date revenue after collecting $2.8 million in winnings from $38.6 million in handle, good for a 7.3% hold. It is the first time Caesars had back-to-back weeks with a win rate of 7% or better since January 28 and February 4.

Fanatics Sportsbook recorded its third-best week when including action from predecessor PointsBet, coming within $50,200 of $2 million. Fanatics had an 11.3% hold from $17.3 million worth of wagers and has posted a seven-figure revenue amount in eight of 11 full weeks since replacing PointsBet on Feb. 29.

BetMGM reaped nearly $1.9 million in winnings from $27.3 million in handle, crafting a 6.9% win rate. It was the 13th consecutive week it posted a seven-figure revenue total, but BetMGM’s $32.2 million in year-to-date revenue — dragged down by its record $9.6 million loss from Super Bowl week — is tracking below last year’s total of $40.3 million.

BetRivers rounded out the group of million-dollar weekly operator winners, topping that level by $54,800 thanks to a 10.3% hold on $10.2 million. It was the first time BetRivers surpassed $1 million since April 7 and the fourth time in 2024.

Checking in on the other three operators

Resorts World had its fourth-best week for revenue with $225,400, attaining a 10.2% hold on $2.2 million in handle. It was the first week it accepted $2 million or more in wagers since March 31.

That handle edged out Bally Bet for seventh — Bally Bet had $84,200 less in handle but also $83,900 less in revenue as its $141,500 haul provided a 6.7% win rate.

WynnBET continues to occupy a no man’s land-like state as it continues to be a place-holder following the sale of its license to PENN Entertainment earlier this year so ESPN BET can enter the Empire State.

WynnBET posted $12,200 in revenue from $415,500 in wagers, the sixth time in eight weeks it claimed less than $20,000.

WynnBET has collected just $775,400 in winnings in 2024 thanks to a paltry 3.4% hold on $22.7 million in handle.

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