FanDuel Pushes New York Weekly Mobile Revenue Over $30 Million
Regulation · 2024-06-07

FanDuel Pushes New York Weekly Mobile Revenue Over $30 Million

FanDuel posted a double-digit hold for the fourth consecutive week, according to the New York State Gaming Commission, while accounting for more than half of the $30.3 million in sports betting revenue among the state’s nine mobile operators.

Handle totaled $344.5 million for the week ending June 2, down 11.6% from the week ending May 26, and was the lowest amount since bettors wagered $312.8 million for the week ending Sep. 3. All-time handle via sports betting apps, though, did cross $45 billion.

The statewide hold for the week was 8.8%, down 2.9 percentage points from last week as revenue plummeted by 33.5%. All nine operators finished with positive revenue, which led to an estimated $15.4 million in tax receipts flowing into state coffers.

After being pipped by DraftKings to close out the final full week of May numbers, FanDuel regained the top spots for both weekly handle and revenue. It posted a 12% hold to reap $16.8 million in revenue from $139.9 million in handle as its all-time winnings in the Empire State surpassed $1.9 billion.

FanDuel also crossed $4 billion in year-to-date handle and has a 10.8% win for the year, claiming $436.2 million in winnings in the first 22 weeks. It was the 16th consecutive week the online leviathan posted an eight-figure revenue haul.

DraftKings finally cooled off some, winning $8.2 million for the week and attaining a 6.7% hold against $121.3 million worth of bets placed. It had topped $20 million in revenue in three of the previous six weeks, highlighted by its state-record $36.5 million total from May 12.

Caesars was the only other operator to surpass $2 million in weekly revenue, finishing with a hold just shy of 7% to pick up $2.3 million from $32.5 million in handle. BetMGM ($1.1 million) and Fanatics Sportsbook ($1.1 million) rounded out operators with seven-figure revenue totals for the week, with the former posting a 5.2% hold on $22.2 million in handle and the latter crafting a 7.6% win rate against $15 million-plus in wagers.

BetRivers was denied a third consecutive week with $1 million or more in revenue as bettors held it to a 5.9% hold on $10 million in handle.

The state’s other three digital sportsbooks — Resorts World, Bally Bet, and WynnBET — combined for $158,000 in revenue for the week as Resorts World’s 6.1% hold and $99,900 in winnings were the best marks among the trio.

WynnBET came out just $1,715 ahead while extending its streak of failing to achieve the industry-standard 7% hold to 37 weeks after landing at 0.4%.

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