- New York sports betting operators had more success in the Final Four
- The New York State Gaming Commission reported more than $44 million in gross gaming revenue
- Revenues increased by about $36 million compared to the previous week
New York sports betting had a very successful week after one of the most down periods since the state launched sports betting in 2022.
The New York State Gaming Commission reported more than $44 million in gross gaming revenue for the week ending April 6, a nearly $36 million increase in revenues compared with the week before.
Operators rebounded during the NCAA Final Four after state bettors experienced a great deal of success during the March Madness tournament.
Solid Week of Revenue
The New York State Gaming Commission reported $562,484,765 in online sports betting handle for the week ending April 6. The commission also reported $44,402,646 in gross gaming revenue, nearly a $36 million increase from the previous week.
For the week ending March 30, the state only took in $8.4 million in gross gaming revenue, the fourth lowest amount of weekly revenue New York has ever reported since launching sports betting.
Operators reported an 11.6% hold, up from the miniscule 1.6% hold from the previous week.
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.
Here are the handle breakdowns for the nine sportsbooks for the week:
- FanDuel NY: $212,285,694
- DraftKings NY: $189,008,182
- Fanatics Sportsbook: $50,842,344
- BetMGM NY: $39,641,868
- Caesars Sportsbook: $38,585,646
- ESPN BET: $15,726,877
- BetRivers: $11,573,677
- Bally Bet: $2,807,404
- Resorts World: $2,013,072
Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $26 billion in total handle so far.
- FanDuel: $26,186,520,907
- DraftKings: $22,074,507,821
- Caesars: $7,274,539,703
- BetMGM: $4,707,592,163
- Fanatics Sportsbook: $2,575,004,977
- BetRivers: $1,787,059,651
- ESPN BET: $303,049,414
- Resorts World: $246,034,410
- Bally Bet: $169,409,352
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NY Sports Betting Revenues
For the week of April 6, the nine sportsbooks reported a total of $44,402,646 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $22,645,349 million in tax revenue.
Here are the total gross gaming revenues for the week:
- DraftKings: $16,535,701
- FanDuel: $15,555,467
- Fanatics Sportsbook: $4,105,952
- BetMGM: $3,533,970
- Caesars Sportsbook: $2,710,014
- BetRivers: $1,134,741
- ESPN BET: $563,404
- Resorts World: $164,050
- Bally Bet: $99,347
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $2,705,859,199
- DraftKings: $1,843,372,127
- Caesars Sportsbook: $527,728,079
- BetMGM: $315,743,162
- Fanatics Sportsbook: $180,035,140
- BetRivers: $109,827,925
- ESPN BET: $18,658,896
- Resorts World: $16,150,695
- Bally Bet: $9,953,203
After a challenging week in sports betting, operators in New York are bouncing back and regaining their footing in the competitive industry. The past week saw a series of unexpected outcomes and upsets that left many operators reeling, but they are now finding ways to adapt and overcome the obstacles they faced.
One of the key factors contributing to the operators’ bounce back is their ability to analyze and learn from the mistakes made during the challenging week. By carefully reviewing their strategies and approaches, operators are able to identify areas for improvement and make necessary adjustments to ensure better outcomes in the future.
Additionally, operators are also taking advantage of new opportunities and exploring different avenues to attract more customers and increase their revenue. This includes offering special promotions, introducing new betting options, and expanding their marketing efforts to reach a wider audience.
Furthermore, operators are focusing on providing top-notch customer service to retain existing customers and attract new ones. By offering responsive support, quick payouts, and a user-friendly betting experience, operators are able to build trust and loyalty among their clientele.
Overall, operators in New York are proving their resilience and determination in the face of challenges in the sports betting industry. By learning from past mistakes, seizing new opportunities, and prioritizing customer satisfaction, they are well-positioned to bounce back and thrive in the competitive market.
