Last week was a good week for online sports bettors in New York.
According to data released Friday morning by the New York State Gaming Commission (NYSGC), the nine sportsbooks approved to operate by the state generated a handle of $267.6 million for the week ending June 25. That was down 3.8% from the previous week and marked the third consecutive decline as the New York sports betting season heads into its typical summer swoon.
While the sportsbooks reported a slight dip in handle, they took a big hit in revenue. The $16.3 million won last week was 40% lower than the $27.2 million reported for the week ending June 18.
With the drop in revenue came a drop in taxes, too, as New York will collect $8.3 million for the week.
The 6.1% hold rate for sportsbooks last week was the second lowest in this fiscal year, which started in April. Operators reported a 3.5% hold for the week ending April 9.
Even with last week's down week, New York, which launched online sports betting in January 2022, eclipsed the $25 billion cumulative handle mark. The nine operators also reported nearly $2.15 billion in gross gaming revenues over that timeframe.
EmpireStakes.com will cover any developments on sports betting revenue in the state as well as provide the best New York sportsbook promo codes.
DraftKings Largest Handle, FanDuel Top GGR
DraftKings claimed the handle crown for the third consecutive week. Its $124.5 million in betting traffic represented 46.5% of all money wagered on New York sports betting apps last week. FanDuel, the weekly handle leader from the start of New York sports betting until earlier this month, reported a handle of $86.8 million.
However, while DraftKings took in $37.7 million more in wagers than FanDuel, the Flutter-brand sportsbook doubled its rival in gross gaming revenue. FanDuel reported $8.2 million in revenues compared to DraftKings’ $4.1 million.
The top two sportsbooks claimed 79% of the handle and 75.3% of the revenues. Caesars NY placed third in both categories, taking $26.2 million in wagers and nearly $2.1 million in revenue.
Last week was also the final week that Bally Bet took wagers before transitioning to a platform powered by Kambi, with player management accounts handled by White Hat Gaming. Bally Bet, which stopped taking wagers and deposits on June 22, reported just $123,980 in handle last week.