FanDuel Posts 15% Hold For Week Versus New York Mobile Bettors

The New York State Gaming Commission reported $38.2 million in mobile sports betting revenue for the week ending June 23 as FanDuel continued to run roughshod on Empire State bettors.

Revenue was up 18.7% from the previous week as the nine sports betting apps combined to craft an 11.5% hold against $333.1 million worth of wagers. That was the lightest handle since $312.8 million was wagered for the week ending Sept. 3 — the week before the start of the 2023 NFL season.

Handle was also down 8.2% compared to last week, but it was also enough to send the all-time running mobile total above $46 billion though 129 weeks. All nine operators finished with positive revenue for the week, leading to an estimated $19.5 million in state taxes.

FanDuel Can’t Stop, Won’t Stop

FanDuel pulled off the Empire State “Triple Crown” for the week, leading the nine operators in handle, revenue, and win rate. It posted a double-digit hold for the seventh consecutive week at 15%, keeping $19.7 million of the $131.1 million wagered through its app.

It is the longest run of 10%-plus holds by FanDuel since a nine-week streak from Dec. 10-Feb. 4. The online powerhouse also moved within $3.2 million of paying New York $1 billion in state taxes and moved its all-time revenue total within $46 million of $2 billion.

DraftKings surpassed $350 million in revenue for the year after claiming $10.9 million in winnings from $118 million worth of wagers. It also cleared $650 million in all-time tax payments to New York coffers.

Caesars grabbed the final podium spots for revenue and handle, fashioning an 8.1% win rate in collecting $2.5 million of the $31.3 million wagered.

The weekly haul also pushed Caesars above $60 million in year-to-date winnings.

Fanatics Extends Recent Surge

Though Fanatics Sportsbook was fifth in revenue and handle, the nearly $2 million won ranked fourth all-time when including figures from predecessor PointsBet. Fanatics has claimed three of the duo’s top five all-time revenue totals over the past six weeks, and the 11.8% hold was its third consecutive week above 10%.

BetMGM picked up nearly $2.1 million in revenue for the week, attaining a 9.1% hold from $22.8 million in handle. Its June 23 numbers were enough for BetMGM to surpass $40 million in winnings and $700 million in handle for 2024.

BetRivers had arguably the most interesting week of the nine mobile sportsbooks. Its handle plunged 61% from last week to $9.7 million, but an 8.8% hold — 5.9 percentage points higher — resulted in a 20% bump in revenue to $854,800.

BetRivers had generated $44.6 million worth of wagers the previous two weeks, but sub-3% holds each week resulted in a combined $1.2 million in revenue.

A Long Streak Ends for WynnBET

WynnBET nearly matched its winnings for the previous two weeks with $30,148 in revenue, and it also snapped a 39-week streak with a hold below the 7% industry standard after notching an 8.4% win rate from $357,900 in handle.

It was WynnBET’s highest hold since landing a 14.3% win rate Aug. 27.

WynnBET still finished last in revenue for the week, but both Resorts World ($86,367) and Bally Bet ($63,273) also failed to reach six figures. Resorts World had a 5.2% hold against $1.7 million in handle, while Bally Bet was low book on the totem poll with a 4% win rate from $1.6 million worth of bets.