Business

New York Sports Betting Operators Thrive During 2024 NFL Draft Weekend

The sports betting operators in New York had a successful weekend during the 2024 NFL Draft, with FanDuel leading the way by recording $20 million in revenue for the fourth time in five weeks. The New York Gaming Commission reported a total handle of $440.9 million for the week ending April 28, with revenue hitting $39.5 million and a 9% hold despite the ongoing NBA playoffs and MLB games.

Following a historic week with a 12.5% win rate and $57.3 million in revenue, profits slightly dropped by 31% in the latest week while the handle only decreased by 3.2%. This marked the 28th time in 29 weeks that the weekly handle surpassed $400 million, showcasing the growth and maturity of the New York sports betting market compared to the previous year.

FanDuel reclaimed the top spot from DraftKings by generating a weekly handle of $189.7 million, leading in revenue with $21.9 million for the week ending April 28. This achievement marked the fourth time in five weeks that FanDuel exceeded $20 million in profits. Meanwhile, DraftKings saw a decline in both handle and revenue, with a 18.3% decrease in handle and revenue dropping from $27.3 million to $10.7 million week-over-week.

All New York sports betting operators managed to stay profitable during the week, with only four operators surpassing their revenue from the previous week. Caesars secured the third-highest handle at $37.4 million, while BetMGM followed closely with a handle of $29.3 million and revenue of $2.1 million. Fanatics rounded out the top 5 in New York with $16.1 million in wagers for the week.

LEAVE A RESPONSE

Your email address will not be published. Required fields are marked *