- ESPN BET generated $9.1 million in online sports betting handle in the Empire State during its first week
- The Empire State’s newest operator only outpaced Bally Bet and Empire Resorts in terms of handle for the week
- ESPN BET reported $1.14 million in gross gaming revenue
New York’s newest online sports betting operator may not have made the splash it expected in the Empire State during its first full week of operation.
ESPN BET struggled to gain foothold in the state during its first full week of operation after launching on Friday, Sept. 27. The operator ranked seventh in the state out of nine online sports betting operators with $9.09 million in handle for the week ending Oct. 6.
It tripled its online sports betting handle total from its first three days of operation, but only outpaced two other operators during the week.
Work to Do in New York
The PENN Entertainment-owned operator has its work cut out for them if it hopes to make inroads in New York. ESPN BET’s $9,092,644 in online sports betting handle only topped Bally Bet’s $2,203,068 and Resorts World’s $1,648,214 weekly total.
If there’s any positive to take from ESPN BET’s performance, it’s that the operator was able to report $1,149,940 in gross gaming revenue for the week. The figure resulted in a 12.7% hold for the week, which was the highest weekly hold rate for any reported operator.
The New York State Gaming Commission has yet to report the week’s totals for FanDuel, however, or for the state overall.
With FanDuel yet to be reported, the seven others totaled slightly more than $312 million in sports betting handle and $33.5 million in gross gaming revenue for the week. FanDuel’s weekly totals will likely push New York close to the $500 million handle and $50 million revenue mark for the week.
Weekly Totals So Far
The New York State Gaming Commission releases handle and revenue reports for its nine live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, ESPN BET and BetRivers, at the conclusion of each week.
For the second week in a row, Fanatics Sportsbook will likely be the third most successful operator in the state in terms of handle. It’s topped Caesars and BetMGM consistently for the last month, but will not have a better week than FanDuel when the operator reports its weekly totals.
Here are the handle breakdowns for the nine sportsbooks (excluding FanDuel) for the week ending Oct. 6:
- DraftKings NY: $182,353,275
- Fanatics Sportsbook: $43,059,583
- Caesars Sportsbook NY: $32,238,497
- BetMGM NY: $32,184,027
- BetRivers: $9,354,794
- ESPN BET: $9,092,644
- Bally Bet: $2,203,068
- Resorts World: $1,648,214
Here are the gross gaming revenue totals for the week:
- DraftKings NY: $21,269,989
- BetMGM NY: $3,380,777
- Fanatics Sportsbook: $3,198,550
- Caesars Sportsbook NY: $3,008,589
- ESPN BET: $1,149,940
- BetRivers: $1,042,290
- Bally Bet: $251,240
- Resorts World: $192,635
In a major milestone for sports betting in New York, ESPN BET reported a staggering $9.1 million in sports betting handle during its first week of operation. This figure is a clear indication of the strong demand for sports betting in the state and the potential for significant revenue generation in the industry.
The launch of ESPN BET in New York has been highly anticipated, as the state recently legalized online sports betting and has seen a surge in interest from both operators and bettors. With its strong brand recognition and reputation in the sports industry, ESPN BET was well-positioned to capitalize on this growing market.
The $9.1 million in sports betting handle generated by ESPN BET in its first week is an impressive feat, especially considering the relatively short amount of time the platform has been operational. This figure represents the total amount of money wagered by bettors on sporting events through the platform, and is a key metric used to measure the success and popularity of a sports betting operator.
The strong performance of ESPN BET in its first week bodes well for the future of online sports betting in New York. With a large and enthusiastic sports fan base, as well as a growing number of online sports betting options, the state is poised to become a major player in the industry.
Overall, the $9.1 million in sports betting handle generated by ESPN BET in its first week is a promising sign of things to come for online sports betting in New York. As more operators enter the market and bettors continue to embrace this new form of entertainment, the industry is expected to see significant growth and revenue generation in the coming years.
