The first week of June was a relatively slow period for pro sports in the U.S., but the Empire State still avoided a drop-off in sports betting action.
The New York Gaming Commission reported a handle of $345.4 million for the week ending June 9. Although the NBA only hosted two Finals games during this period (following a six-day layoff), the handle was up 0.3% from the previous week.
Despite the modest gains, it’s been a slow period for New York bettors, with the last three weekly handle totals all falling under $400 million.
Revenue of $35.1 million was up a more impressive 15%, marking the fifth consecutive week of at least $30 million in profits.
The week ending June 9 produced a 10.2% hold, up from the previous win rate of 8.8%.
Market leaders remain on top
FanDuel generated a state-best handle of $134.1 million and produced $17.8 million in revenue, up from the previous week’s $16.8 million.
DraftKings had a handle of $123.7 million and returned to over $10 million of revenue after falling below that mark in the previous week.
The two New York online sports betting market leaders accounted for 74.6% of the overall handle and 82% of the total revenue.
Staying in the black
Caesars finished with the third-best handle at $27.7 million, while BetMGM rounded out the top four with $22.5 million wagered for the week.
BetRivers finished with a handle of $19.7 million, ahead of Fanatics Sportsbook’s $14.1 million.
No operator finished in the red and several saw improved week-over-week revenue increases. Bally Bet went from $56,407 to $204,982 while WynnBet profits rose from $1,715 to $11,709.
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