New York Sportsbooks Total $131 Million In February Revenue
· 2024-03-11

New York Sportsbooks Total $131 Million In February Revenue

The New York State Gaming Commission reported $131.3 million in adjusted gross sports betting revenue for February on Friday, as varied operator outcomes from Super Bowl LVIII played havoc with bottom lines.

The revenue total was down 38% from January’s all-time national high of $211.7 million, but still a healthy 21.1% increase from the $108.3 million collected the previous February. The Kansas City Chiefs’ overtime victory over the San Francisco 49ers in Super Bowl LVIII produced mixed results for the nine sports betting apps in the state, highlighted by a $4.8 million loss for BetMGM and a $970,000 loss for Caesars.

The Empire State’s four retail sportsbooks posted a combined loss of $112,000 on $5.8 million handle. After bettors came out $48,100 ahead on $1.6 million worth of Super Bowl wagers when including futures, they added another $63,700 to their bankrolls from the $4.2 million in other action.

Handle was up 20.7% compared to February 2023 and 9.5% lower than January. There was $1.97 billion worth of wagers. The state collected $67 million in taxes, and the $174.9 million reaching Albany coffers in the first two months of 2024 is $43.4 million more than the same period last year.

FanDuel was the top performer among the nine mobile sportsbooks in February, claiming $63.4 million from $720.1 million handle and posting an 8.8% hold. It had more than 40% of New York’s mobile handle for the fifth consecutive month, though the 40.6% market share was the lowest in that streak.

It was also the third time in five months FanDuel failed to post a 10% hold, something it had done in 16 of the 18 months prior to October.

DraftKings nearly took top honors for win rate, edging near 8.8% to reap $53.4 million in winnings from $607.9 million in paced bets. Thanks to BetMGM’s and Caesars’ Super Bowl losses, DraftKings accounted for 40% of the monthly mobile revenue for the first time since entering the Empire State. Its previous best was 39.1% last July.

BetMGM’s seven-figure loss for Super Bowl bets — part of its staggering state-record $9.6 million loss for the week ending Feb. 11, eked out a small win for February with $580,000 in revenue from $129.7 million handle. The 0.4% hold was an all-time monthly low and the first below 3% since March 2022.

Caesars’ lighter loss that week, totaling $1.3 million, knocked down its monthly winnings to $6.7 million. It had a 4.2% win rate, ahead of only one just above 4% in July 2022.

The final month in New York for PointsBet, which includes figures from Fanatics Sportsbook‘s entrance Feb. 29, was a record for handle at $82.9 million. That easily outdistanced the previous high of $58 million from January 2023. It only provided a top-three revenue total as a farewell, with the $2.9 million in winnings creating a 3.5% hold.

BetRivers edged PointsBet for fourth in revenue, coming within $26,000 of $3 million while crafting a 6.4% win rate. BetRivers has amassed $6.5 million in winnings the first two months of 2024, which is nearly 10% of its all-time $65.4 million haul.

The off month by BetMGM allowed Bally Bet to claim sixth in revenue with an all-time monthly best of $724,000. Its 7.5% hold ranked third for the mobile operators, while the $9.7 million handle was an all-time high for the third consecutive month.

Resorts World and WynnBET rounded out the results, with Resorts taking $544,000 from $8.3 million worth of bets and WynnBET collecting $163,000 from $7.1 million handle. It was the sixth consecutive month WynnBET — who agreed to sell its New York sports betting licenses for $25 million to PENN Entertainment so ESPN BET can enter New York — had a sub-5% hold.

热门文章
越南博彩管控逐步放宽,惟本土需求仍显乏力
东南亚资讯
JILI 宣布与全球板球传奇 AB de Villiers(ABD)达成重磅战略合作
体育游戏
张侨伟参议员排除全面禁止,敦促菲律宾规范网络赌博
东南亚资讯
英国确认各垂直行业的赌博税税率
游戏风向
密西西比州众议院委员会推进提议增加赌场税的法案
游戏风向
准备好了将你的收益最大化吗?尝试ProPush.me Constructor!
广告营销
哈萨克斯坦计划对在线赌场促销活动进行处罚
游戏风向
菲律宾博彩技术赛道迎来新变局,B2B 供应模式加速渗透
东南亚资讯
印度最高法院受理公益诉讼,要求全国禁封“伪装”成社交游戏的赌博平台
游戏风向
BETFAIR 网络攻击80万用户资料泄露
游戏风向
巴西拟将博彩税率提高至24% 税收将用于社保和医疗领域
游戏风向
斯里兰卡博弈产业大转型,官方:剑指南亚拉斯维加斯
游戏风向
PropellerAds 分享了新的 iGaming 案例研究:在 3 个月实现 97,674 次安装和 12,701 笔存款
广告营销
巴西颁布新法赋权央行封锁非法博彩账户及 Pix 交易
支付动态
越南在线博彩业政策收紧 催生市场新机遇
东南亚资讯
首页
游戏
合作
发现
我的