For New York’s numbers in July, the state Gaming Commission reported $140.9 million in sports betting revenue. That was fueled by a collective 11.1% hold from the nine mobile sportsbooks. Additionally, New York’s overall win rate was also 11.1%. Their fourth-highest total in 31 months of legal betting in New York. The $1.27 billion total handle was up 31% compared to the numbers this time in 2023. New York’s figures in July 2023 were the only time in the last 24 months that bettors failed to wager at least $1 billion. Revenue was also up 33.5% compared to July 2023. It was the third time in as many years that New York’s mobile betting market finished with at least a 9.1% hold. The state’s four retail sportsbooks all shared a strong month, combining for a 13.3% hold. Nearly $4 million was wagered via mobile sportsbooks in July 2024.
What sportsbooks were the most profitable in New York in July?
Fanatics Sportsbook has been in business accepting wagers for four full months after replacing PointsBet. In those four months, they’ve posted a hold of 9.7% or better three times. July 2024 was their strongest hold so far at 11.7% with $8.9 million generated from a $76.1 million handle. Over the last four months, Fanatics has had a 9.8% win rate while accepting $28.2 million in wagers. To no surprise, FanDuel had the top spot for revenue and handle in July 2024. They accepted $482.5 million in wagers and had $59.3 million in winnings. It was the second time in 2024 that FanDuel finished with a hold above 12%. Additionally, FanDuel surpassed $550 million in year-to-date revenue. That is more than ⅔ of its full-year 2023 total of $815.1 million.
Not too far behind FanDuel in the New York sports betting market for July was DraftKings. They had a double-digit hold of 10.5% in July. That was enough to claim $48 million in revenue from a $456.8 million handle. Additionally, it was the third time the DraftKings had a hold of 10% or higher in the last year. They had only done that four times in 2022 and 2023. Finally, DraftKings’ winnings in July were enough to push their yery winnings to over $400 million.
