Operators of legal sports betting in the Empire State experienced a drop in handle and revenue for the third consecutive week.
According to figures released by the New York Gaming Commission for the period ending May 21, mobile sportsbooks took in $307.3 million in wagers, which was down 3.5% from the previous week. Revenue fell more drastically, from $37 million to $18.9 million. The 48% drop since is the steepest since early April, when college basketball betting wrapped up, and it ended a streak of five consecutive weeks of $35 million or more in profits.
The nine online betting sites combined for a 6.15% hold.
FanDuel took the largest hit in terms of revenue, as New York sports betting customers got the best of the sportsbook giant by lowering its win rate from 16% in the previous week to just 5.9% in the period ending May 21.