The state of New York is currently experiencing a significant increase in online sports betting, which has resulted in a 34% increase in overall revenue collection and a 45% increase in handle.
This is being attributed to the high hold of 10.3%, which ensured revenue generation of $203.3 million, surpassing the $1.9 billion threshold.
DraftKings took pleasure in sharing the spoils, with its wins reaching $84.2 million, signifying a significant 76% increase, while its handle reached $812 million. This speaks of a 72% jump.
Despite being ahead in terms of total betting amount, the operator claimed the second position with regard to revenue collection. Topping the list was FanDuel, coming in for $88 million, signifying a 16% jump. Its handle stood at $748 million, a 33% increase compared to the same period last year.
Caesars Sportsbook experienced a downward trend, positioning itself in third place and raking in $11.1 million, a drop of 20%.
In the case of BetMGM, it witnessed an increase of 25% in terms of handle, reaching the figure of $117 million. Low hold managed to bring it down to $8.2 million.
A fresh entrant, Fanatics, saw its handle go past the 27% mark, standing at $72 million in terms of betting amount, with revenue collection reaching $7 million, an increase of 478% as compared to 2023. BetRivers saw a 27% increase, earning $3.6 million.
BallyBet’s handle increased 264%, reaching $8 million. Resorts World Bet came in with a handle of $8 million, an increase of 99%, with WynnBet following with $2 million in terms of betting amount, a drop of 75%.
