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FanDuel Edges DraftKings In Latest New York Mobile Weekly Revenue Numbers

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Regulation

2024-07-12

FanDuel Edges DraftKings In Latest New York Mobile Weekly Revenue Numbers

The New York State Gaming Commission reported $36.7 million in mobile sports betting revenue for the week ending July 7 as FanDuel narrowly beat out DraftKings for the top spot in winnings among operators.

Revenue surged 26% from last week and was boosted by an 11.3% hold that was 2.3 percentage points higher. It was the fifth time in the past nine weeks the collective hold exceeded 11%. The $323.9 million wagered through the Empire State’s nine sports betting apps was practically flat, rising only 0.4%.

All nine finished with positive gross revenue for the week, resulting in an estimated $18.7 million in tax revenue for the state.

FanDuel and DraftKings combined for $28.7 million of the revenue haul, with FanDuel collecting $14.37 million, $59,702 more than DraftKings’ $14.31 million. FanDuel’s 11.6% hold for the week was its ninth straight week in double figures, matching its state record established from July 31 to Sep. 25, 2022.

FanDuel also picked up another win for handle, accepting $123.7 million worth of bets. The $118 million in handle for DraftKings meant it actually had a higher hold for the week (12.1%) and was one of five operators to clear a 10% hold. DraftKings also moved beyond $1.3 billion in all-time winnings.

Caesars took top honors for hold at 12.3%, its best since attaining a 12.9% win rate the week ending Dec. 11, 2022. It finished with $3.3 million in winnings from $26.6 million in handle, the first time it topped $3 million since claiming $3.3 million the week ending May 26.

BetMGM rounded out the group of operators with seven-figure revenue hauls and won $2.8 million after accepting $26.8 million in wagers. It was the best week for BetMGM since April 21, and it also cleared $750 million in year-to-date handle.

Fanatics Sportsbook had an eight-week streak of $1 million or more in revenue snapped as it totaled $954,300 in winnings. The 5.6% hold against $16.9 million in handle was its lowest since a 4.2% win rate reported May 5. Fanatics and predecessor PointsBet have combined for $30 million in revenue and $400 million in handle this year.

BetRivers had a 9% hold, up four percentage points from last week, as revenue jumped 50.4% to $821,200. It was also enough to push BetRivers over $20 million in 2024 revenue and $350 million in handle this year.

Bally Bet surpassed $80 million in total handle after accepting $1.3 million worth of bets. Nearly two-thirds of that action — $53.3 million — has come this year as it posted a 7% hold for the week in winning $90,400.

Resorts World rounded out the quintet with double-digit holds, landing at 11.5% in keeping $128,100 of the $1.1 million wagered. WynnBET topped $20,000 in revenue for the third-straight week, its longest run since Feb. 18-March 3, while notching a 5.8% win rate from $368,700 worth of wagers.

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