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New York Mobile Sportsbooks Rack Up $48 Million, Continue Roll




New York Mobile Sportsbooks Rack Up $48 Million, Continue Roll

New York‘s nine mobile betting apps did more with less last week as the New York State Gaming Commission reported more than $48.2 million in adjusted gross revenue Friday for the week ending Sunday.

Handle totaled nearly $386.6 million, ending a 16-week streak of $400 million-plus worth of wagers accepted by the group. But the winnings marked the fourth consecutive week they combined on a Top 10 revenue total as this one ranks sixth out of 109 weeks of mobile betting. The hold of nearly 12.5% ranks 14th and was up nearly two full percentage points from the week ending Jan. 28.

DraftKings joined FanDuel as the only operators to surpass $1 billion in all-time revenue in the Empire State, while also crossing the $12 billion threshold for handle. FanDuel, author of the most records when it comes to revenue, added another entry by becoming the first operator to post three consecutive weeks with $20 million or more in revenue.

BetMGM became the first operator in state history to post a 20%-plus hold with a minimum $10 million handle, reaching 20.2% in its best week of New York action. It claimed almost $6.7 million in revenue from $33.1 million handle as it bested FanDuel’s 18.5% win rate against close to $160 million worth of wagers the week ending Oct. 15.

Four operators had double-digit holds for the week, with FanDuel extending its streak to four weeks as it crafted a 12.7% win rate to keep $21.3 million of the $167.4 million worth of wagers it accepted. DraftKings had an 11.7% hold in reaching its revenue benchmark, collecting $14.8 million in winnings against $126.2 million handle.

PointsBet notched a 12% hold to win just over $812,000, the fourth time in nine weeks it topped $750,000 in revenue. Caesars Sportsbook also had a solid week with more than $3.5 million in winnings thanks to a 9.8% win rate on $36.2 million in bets placed.

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