The Empire State’s nine online sportsbooks weathered the 2024 NFL Draft weekend, one where bettors typically fare well.
The New York Gaming Commission reported a handle of $440.9 million in the week ending April 28. Revenue reached $39.5 million, producing a 9% hold in a week otherwise filled with the NBA playoffs and MLB.
Empire State operators will likely take that coming off a historic previous week when the win rate hit 12.5% and revenue reached $57.3 million. Profits fell 31% in the latest week while the handle dropped just 3.2%.
The weekly handle eclipsed $400 million for the 28th time in 29 weeks. This time last year, the amount wagered was around $300 million, showing the maturity of the New York market.
Back on top
After watching DraftKings take the handle lead the last two weeks, FanDuel re-took the top spot with a weekly amount wagered of $189.7 million.
The online sportsbook also led the Empire State in the week ending April 28 with revenue of $21.9 million, marking the fourth time in five weeks that FanDuel has reached $20 million in profits.
DraftKings took a step back in the latest reported week, generating a handle of $152.8 million, down 18.3% week-over-week. Revenue fell from $27.3 million to $10.7 million from one week to the next.
Head above water
No New York sports betting operators finished the week in the red, but only four produced more revenue than the previous week.
Caesars had the third-highest handle at $37.4 million while revenue fell around $800,000 short of last week. Meanwhile, BetMGM’s fourth-best handle of $29.3 million and revenue of $2.1 million weren’t too far off from the previous week.
Fanatics generated $16.1 million of wagers to round out the Top 5 in New York for the week.
