New York’s online sportsbooks see weekly handle increase, but revenue dips

New York’s online sportsbooks see weekly handle increase, but revenue dips

Article brief provided by Covers
  • Jared Hochman, Covers
October 20, 2022 7:06 PM
  • Jared Hochman, Covers

Last week was another big one for sports betting in New York, which saw its second-highest weekly handle and third-highest revenue figure since early May.

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Numbers released today by the New York State Gaming Commission show the state’s online sportsbooks took in $323 million in wagers for the week ended October 16 — a $3.7 million increase from last week’s $319.3 million mark.

Revenue, however, declined by almost $6 million week-over-week, with state operators posting an 11.5% hold percentage… well down from the previous week’s 13.5% win rate.

New York’s legal sports betting handle has enjoyed the start of the new NFL season, posting four straight weeks with a total North of $300 million — after topping that number just once in the 18 weeks prior, hitting a low of $149.7 million in late July.