New York’s Sports Betting Operators Produce 11.5% Weekly Hold in Late June

Weekly holds under 10% don’t usually last long for Empire State online sportsbooks, and they usually bounce back well when they do catch a single digit.


Such was the case for the week ending June 23, when the win rate went from 8.9% to 11.5%.


That led to revenue of $38.2 million, the highest of any week in June so far, and helped offset an 8.2% week-over-week drop in the handle.


The New York Gaming Commission reported that $333.1 million was wagered in the week ending June 23. With just one NBA Finals game during the week and that series coming to a close with the Boston Celtics winning the title in five games, some handle drop was expected. However, the nine online sports betting operators still fared well behind a Stanley Cup Final between the Edmonton Oilers and Florida Panthers that showcased two games during the period.


Revenue reached $30 million for the seventh consecutive week and the ninth time in the last 10 periods.


The handle, meanwhile, hasn’t climbed to $400 million since the week ending May 19.


Big dogs eat


The trend of FanDuel winning New York continued.


The online sportsbook accounted for $19.6 million of the total profit in the Empire State, thanks to a 15% hold. FanDuel also led all operators for the fourth consecutive week in the amount wagered with a handle of $131.1 million.


DraftKings was second at $118 million and the only other mobile sportsbook to reach $10 million in revenue, meaning the two market leaders combined for nearly 80% of all money made by operators for the week.


Bouncing back


Caesars finished third for the week ending June 23 with a handle of $31.3 million. The online sportsbook also bounced back from its third week of revenue under $2 million since April last week with a $2.5 million haul in the latest period.


BetMGM was fourth with a handle of $22.