New York operators find sports betting stability following fluctuating weeks
Sports Game · 2024-08-19

New York operators find sports betting stability following fluctuating weeks

The Empire State began building toward more consistency in the latest week of online sports betting.

New York’s eight operators combined to generate more than $300 million in wagers in consecutive weeks for the first time since a 46-week run ended in July.

The New York Gaming Commission reported a handle of $307.8 million for the week ending Aug. 11, down 6.9% from the previous week but more stable with the start of the NFL preseason and the end of the Olympics.

Revenue reached $24.6 million, up 8.8% week-over-week. An 8% hold was better than the week before when bettors held their own against a 6.8% operator win rate.

Profits have stayed below $30 million in three of the last four weeks, but football season is just a few weeks away. New York sportsbooks averaged nearly $37 million weekly in revenue in Sept. 2023.

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