FanDuel Posts 15% Hold For Week Versus New York Mobile Bettors
Regulation · 2024-06-28

FanDuel Posts 15% Hold For Week Versus New York Mobile Bettors

The New York State Gaming Commission reported $38.2 million in mobile sports betting revenue for the week ending June 23 as FanDuel continued to run roughshod on Empire State bettors.

Revenue was up 18.7% from the previous week as the nine sports betting apps combined to craft an 11.5% hold against $333.1 million worth of wagers. That was the lightest handle since $312.8 million was wagered for the week ending Sept. 3 — the week before the start of the 2023 NFL season.

Handle was also down 8.2% compared to last week, but it was also enough to send the all-time running mobile total above $46 billion though 129 weeks. All nine operators finished with positive revenue for the week, leading to an estimated $19.5 million in state taxes.

FanDuel pulled off the Empire State “Triple Crown” for the week, leading the nine operators in handle, revenue, and win rate. It posted a double-digit hold for the seventh consecutive week at 15%, keeping $19.7 million of the $131.1 million wagered through its app.

It is the longest run of 10%-plus holds by FanDuel since a nine-week streak from Dec. 10-Feb. 4. The online powerhouse also moved within $3.2 million of paying New York $1 billion in state taxes and moved its all-time revenue total within $46 million of $2 billion.

DraftKings surpassed $350 million in revenue for the year after claiming $10.9 million in winnings from $118 million worth of wagers. It also cleared $650 million in all-time tax payments to New York coffers.

Caesars grabbed the final podium spots for revenue and handle, fashioning an 8.1% win rate in collecting $2.5 million of the $31.3 million wagered.

The weekly haul also pushed Caesars above $60 million in year-to-date winnings.

Though Fanatics Sportsbook was fifth in revenue and handle, the nearly $2 million won ranked fourth all-time when including figures from predecessor PointsBet. Fanatics has claimed three of the duo’s top five all-time revenue totals over the past six weeks, and the 11.8% hold was its third consecutive week above 10%.

BetMGM picked up nearly $2.1 million in revenue for the week, attaining a 9.1% hold from $22.8 million in handle. Its June 23 numbers were enough for BetMGM to surpass $40 million in winnings and $700 million in handle for 2024.

BetRivers had arguably the most interesting week of the nine mobile sportsbooks. Its handle plunged 61% from last week to $9.7 million, but an 8.8% hold — 5.9 percentage points higher — resulted in a 20% bump in revenue to $854,800.

BetRivers had generated $44.6 million worth of wagers the previous two weeks, but sub-3% holds each week resulted in a combined $1.2 million in revenue.

WynnBET nearly matched its winnings for the previous two weeks with $30,148 in revenue, and it also snapped a 39-week streak with a hold below the 7% industry standard after notching an 8.4% win rate from $357,900 in handle.

It was WynnBET’s highest hold since landing a 14.3% win rate Aug. 27.

WynnBET still finished last in revenue for the week, but both Resorts World ($86,367) and Bally Bet ($63,273) also failed to reach six figures. Resorts World had a 5.2% hold against $1.7 million in handle, while Bally Bet was low book on the totem poll with a 4% win rate from $1.6 million worth of bets.

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