Online sports wagering in New York State generated $166 million in revenue on a total handle of $1.7 billion. According to J.P. Morgan analyst Joseph Greff, this indicates a hold percentage of 9.4 percent. Handle grew 40 percent and operators’ winnings were 16 percent higher year over year.
After taxes and before subtracting promotional outlays, which were undisclosed by the state, online sports betting operators netted $81 million. Although the plurality of money (40 percent) was wagered with DraftKings, FanDuel garnered the most revenue, 46 percent.
Privately held FanDuel’s revenue increased 17 percent to $77 million, while DraftKings’ revenue jumped 37 percent to reach a second-place $61 million, in the first month of professional and collegiate football.
Caesars Sportsbook was third with $13 million in win, a 32 percent plummet. BetMGM garnered $8 million, a five percent drop. In its last month before switching over to the Fanatics brand, PointsBet slipped six percent to $2 million in win, while BetRivers gained three percent to make $4 million.
WynnBET tumbled 46 percent to end the month with $400,000 in revenue and Resorts World Bet grossed $200,000, a 38 percent plunge. BallyBet, transitioning to its new Kambi-run platform, was out of action.
