New York mobile sports betting handle rises to $2.15 billion in April
New York’s Sports Betting Revenue Experiences Notable Growth in April
In April, New York’s online sports betting revenue saw a commendable year-on-year increase of 4.7%, highlighting the state’s robust gambling landscape. Players collectively wagered an impressive $2.15 billion on sports during this period, marking a 9.1% rise compared to the previous year, as reported by the New York State Gaming Commission.
This significant spending surpassed the $1.97 billion wagered in April 2024. However, there was a noticeable decline of 12.2% from March’s staggering total of $2.45 billion. The month demonstrated a dynamic shift, reflecting both the seasonal nature of sports betting and market fluctuations.
On the revenue front, New York generated $192.7 million in April, which represents a 4.7% increase year-on-year and is also 18.9% higher than the revenue recorded in March, despite a lower wagering handle. This can be attributed to strategic marketing efforts and promotional activities that heightened player engagement.
The statewide hold for April stood at 8.95%, illustrating a healthy profit margin for operators. Remarkably, tax contributions for this month exceeded $98.3 million, underscoring the state’s continued financial benefit from its regulated sports betting market.
FanDuel Reclaims Top Position in New York Market
Shifting focus to the market operators, FanDuel successfully regained its leadership position after briefly falling behind DraftKings in March. The brand, owned by Flutter Entertainment, reported revenues of $84.8 million from a betting handle of $822.5 million, achieving a notable hold of 10.31%.
DraftKings secured the second spot with $66.8 million revenue derived from a $727.3 million handle, translating to a hold of 9.18%. Meanwhile, Fanatics rounded out the top three with revenue of $12.5 million from $175.7 million in bets, resulting in a 7.11% hold.
Other notable performers included BetMGM, which earned $11.2 million from a $154.1 million handle, achieving a 7.27% hold. Caesars followed closely with $9.7 million in revenue from $153.4 million in bets, producing a 6.32% hold.
Rush Street Interactive reported $3.4 million in revenue after handling $43.2 million in bets, resulting in a hold of 7.87%. ESPN Bet also made headlines as the only other operator to exceed $1 million in revenue, generating $3 million from a $56 million handle, which represents a 5.36% hold.
In contrast, Resorts World Bet fell short of the seven-figure mark, reporting $769,845 in revenue from a $9.9 million handle, resulting in a hold of 7.81%. Finally, Bally Bet closed the month with revenues of $489,091 from an $11.1 million handle, recording a modest 4.39% hold.
This April’s figures reflect a competitive landscape among online sportsbooks in New York, demonstrating the volatility and potential of the betting market. Continuous innovation and marketing strategies will be crucial for operators looking to capitalize on the growing interest in sports betting.
