New York Betting Hits Weekly Low with MLB All-Star Break

New York Betting Hits Weekly Low with MLB All-Star Break
By Bill Ordine
Fact Checked by Pat McLoone

As the summer wagering doldrums dragged on, online New York sports betting hit a new low and combined to record their third week of less than $200 million in handle.

For the week of July 18-24, mobile handle at New York sportsbooks was $149.7 million, almost an 18.6% drop from the previous week ($183.87 million). That itself had been a new record low for a full week since statewide online sports betting started in early January.

To be fair, New York baseball betting was slowed as a daily wagering event as the week included MLB’s All-Star Game with the attendant break in regular-season action.

The Gross Gaming Revenue (GGR) for the week ending July 24 picked up substantially from the previous week. The state’s nine online sports wagering operators posted a GGR of $12.3 million, which compared favorably to an especially low GGR of the previous week -- $6.2 million, a record on the downside for operators.

The recent week’s GGR reflected a relatively typical hold (for the industry at-large) of 8.25% but the week ending July 17 was a bookmaker’s nightmare with a 3.37% hold.

Keep in mind that EmpireStakes.com is a dependable source for the state’s revenue reports as well as your site for top NY sportsbook promos.

New York Mobile Sports Betting, July 18-24

 
Mobile handle GGR
FanDuel $67,282,970 $4,480,761
DraftKings $38,178,601 $3,595,500
Caesars $20,387,153 $2,219,462
BetMGM $15,747,566 $1,375,803
BetRivers $3,590,542 $155,316
PointsBet $2,282,008 $305,517
WynnBet $1,131,807 $61,311
Resorts World $991,052 $76,431
Bally Bet $124,825 $32,050
Totals $149,716,522 $12,302,152

 

A Closer Look at the Operators

Among individual operators, the week ran to form with FanDuel Sportsbook New York being the state’s leader in handle ($67.3 million) and in GGR (4.48 million), a 6.7% hold.

DraftKings Sportsbook NY, which was second in handle ($38.18 million), had a solid week in GGR of almost $3.6 million, for a hold of 9.4%.

Caesars Sportsbook New York took almost $20.4 million in bets and had a GGR of nearly $2.22 million, for a strong hold of almost 10.8%.

BetMGM Sportsbook New York had about $15.75 million in handle and $1.376 million in GGR, an 8.7% hold.

The rest of the operators (which made up just 5.5% of the total handle market for the week) lined up this way:  BetRivers Sportsbook New York, $3.6 million handle, $155,316 GGR; PointsBet Sportsbook New York, $2.28 handle, $305,517 GGR; WynnBet Sportsbook New York, $1.13 handle, $61,311 GGR;  Resorts World Sportsbook New York, $991,052 handle, $76,431 GGR, and the newest entrant, Bally Bet Sportsbook New York, $124,825 handle, $32,050 GGR.

At the current pace of wagering, New York’s July is shaping up to be the first month the state’s online sports gambling industry fails to hit $1 billion in handle.

Cumulative Totals, Jan. 8-July 24

 
Mobile handle GGRTaxes
FanDuel $3,651,449,789 $302,593,533$154,322,702
DraftKings $2,260,168,338 $150,856,366$76,936,747
Caesars $1,882,217,174 $136,243,303 $69,484,085
BetMGM $823,223,315 $36,303,470 $18,514,770
PointsBet $251,249,035 $15,984,513 $8,152,102
BetRivers $222,501,347 $11,181,390 $5,702,509
WynnBet $45,401,072 $3,900,819 $1,989,418
Resorts World $27,771,138 $1,351,221 $689,123
Bally Bet $436,204 $29,961 $15,280
Totals $9,164,417,410 $658,444,577 $335,806,734
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WRITTEN BY
EmpireStakes.com
Bill Ordine
Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.
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Bill Ordine was a reporter and editor in news and sports for the Philadelphia Inquirer and Baltimore Sun for 25 years, and was a lead reporter on a team that was a finalist for the Pulitzer Prize in Breaking News. Bill started reporting on casinos and gaming shortly after Atlantic City’s first gambling halls opened and wrote a syndicated column on travel to casino destinations for 10 years. He covered the World Series of Poker for a decade and his articles on gaming have appeared in many major U.S. newspapers, such as the Los Angeles Times, Chicago Tribune, Miami Herald and others.
... Read More
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