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New York On Target For Monthly Sports Betting Handle Record

The New York State Gaming Commission reported $440.9 million in sports betting handle for the week ending April 28, putting the Empire State in line to better its own national monthly record for wagering.

Because tax revenue from wagering the week of March 25-31 was collected on April 1, that week’s betting activities were moved into April’s monthly ledger. As a result, figures for April will, for all intents and purposes, have five full weeks of handle and sports betting revenue.

The combined total of those five weeks solely from sports betting apps is just over $2.3 billion, easily exceeding the previous high of $2.12 billion established last November. New York is the only state to eclipse $2 billion in monthly handle, with April expected to be the fourth time it will take place.

The last full week of betting in April saw the nine digital operators collect $39.5 million in revenue while crafting a hold just shy of 9%. Whether the Empire State sets a national monthly record for revenue likely will come down to its four retail commercial sportsbooks.

The five weeks of mobile betting resulted in $208.1 million in operator revenue, $3.6 million short of the $211.7 million in statewide winnings from January. The four brick-and-mortar venues have not won that much in any month since the mobile era started in January 2022, last topping that mark in November 2021 with $3.9 million.

FanDuel poised to crack $100 million in April revenue

The bonus week of figures attributed to April will likely put FanDuel over $100 million for the month, as the five-week total for winnings reached $102.7 million. The online juggernaut reaped nearly $22 million in revenue for the week with an 11.1% hold against $189.7 million in handle.

FanDuel, which has crafted an 11% hold or higher in four of the last seven weeks, also cleared $1.8 billion in all-time revenue in the Empire State.

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The betting public brought DraftKings down to earth after its record-setting haul of $27.3 million last week. It finished with $10.7 million in winnings from $152.8 million worth of wagers, as the win rate narrowly missed 7%. DraftKings also edged over $14 billion in total New York handle after accepting $150 million in bets for the sixth consecutive week.

Caesars edged out BetMGM for the final podium spot for revenue by slightly more than $66,000. Caesars raked in $2.2 million despite a 5.9% hold from $37.4 million in handle, while BetMGM attained a 7.3% win rate against $29.3 million in bets placed.

Fanatics Sportsbook rounded out the group of five mobile sportsbooks to win at least $1 million, claiming $309,410 above that mark thanks to an 8.1% hold on $16.1 million in handle.

The combined handle of Fanatics and predecessor PointsBet is all but certain to surpass $1 billion with next week’s numbers after entering play $8.5 million shy of the benchmark.

The best of the rest

Bally Bet posted its second-highest weekly revenue total at $216,899, notching back-to-back weeks with a hold of 11% or higher. Bally Bet recorded two of its five best weeks in April after claiming $194,601 for the week ending April 21.

BetRivers topped $1.25 billion in all-time handle after accepting $11.6 million worth of wagers. It claimed $870,000 in revenue thanks to a 7.5% hold and topped $72 million in total revenue.