New York Online Sportsbooks’ Weekly Revenue Drops to $30 Million as Bettors Cash In
The dip highlights how swingy hold rates can erase profits even after a near-record September handle.
Overview
- New York reported $30.2 million in gross revenue on $591.7 million in handle for the week ending Oct. 5, a 5.1% hold and the largest weekly wagering total of the NFL season.
- DraftKings’ weekly revenue fell 67% to $7.6 million on a $212 million handle, marking its fourth straight week above $200 million wagered.
- FanDuel generated $13.2 million from a $218.7 million handle with roughly a 6% hold, its second consecutive week under a 7% win rate.
- Caesars was the only operator to increase revenue week over week with an 8.5% hold, while Fanatics, BetMGM, ESPN Bet and Bally Bet saw declines.
- For September, the state logged $2.29 billion in handle, $194.7 million in operator revenue and $98.9 million in taxes, pushing all-time wagering past $75 billion as no book posted a double-digit hold.