Online Sports Betting See Small Weekly Increases in New York

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The Empire State’s nine online legal sports betting operators saw their week-over-week win rate rise slightly despite a small drop in handle.  The New York Gaming Commission reported that mobile sportsbooks took in $298.7 million in wagers during the week ending June 11. That was down just 0.4% from the previous period but the state saw its hold go from 8.4% to 8.7%. Revenue of $26 million slightly topped the higher-handle week’s previous profits of $25.3 million. 
Despite a slower period in the sports betting calendar, the Empire State’s sports betting sites have found some consistency. Since revenue slipped below...

The Empire State’s nine online legal sports betting operators saw their week-over-week win rate rise slightly despite a small drop in handle.  The New York Gaming Commission reported that mobile sportsbooks took in $298.7 million in wagers during the week ending June 11. That was down just 0.4% from the previous period but the state saw its hold go from 8.4% to 8.7%. Revenue of $26 million slightly topped the higher-handle week’s previous profits of $25.3 million. 
Despite a slower period in the sports betting calendar, the Empire State’s sports betting sites have found some consistency. Since revenue slipped below $20 million during the week ending May 21, New York has stayed above $25 million for three consecutive weeks.
The latest week outperformed the same period of 2022 when operators produced revenue of $21 million on a handle of just over $248 million.   
Battle for supremacy  FanDuel suffered a drop of nearly $17 million in handle for the week, but the sportsbook giant produced a higher revenue. FanDuel took in $104.8 million in wagers during the period ending June 11 and made $12.2 million in revenue — about $170,000 more than the previous week. The 11.6% hold was improved from last week’s 10% win rate, but it’s still far off from the 17.3% that FanDuel enjoyed in the final week of May.  DraftKings also posted better returns against sports bettors than the previous week when the online sportsbook produced a revenue of $9.1 million on a handle of $131.1 million, which was up nearly 25% week-over-week. Not only did DraftKings top its rival in handle, it also marked the first time the sportsbook took in over $130 million in wagers since early May.   Caesars produced the third-highest handle at $32 million while bringing in revenue of $2.4 million, while BetMGM saw its handle ($16.4 million) fall below $20 million for just the second time since early Sept. 2022. PointsBet struggled mightily against bettors as it held just a 5.5% win rate with $238,843 in revenue on a handle of $4.3 million. Rush Street Interactive suffered even more, producing a 4% hold on over $7 million of wagers.  This article originally appeared on Covers.com, read the full article here
Source: https://www.covers.com/industry/new-york-sees-small-weekly-increases-in-online-sports-betting-june-15-2023