DraftKings Hits A Record $27 Million Weekly Haul In New York

DraftKings had its best week in terms of mobile sports betting revenue in the state of New York for the week ending April 21 with $27.3 million, according to figures released by the New York State Gaming Commission.

The haul, which came on a 14.6% hold against a $187.1 million handle, easily topped its previous best of $25.1 million established Aug. 6. It was the sixth time DraftKings surpassed $20 million in winnings in a week in the Empire State and the second time in 2024.

That mark led a big week for the state’s nine sports betting apps, which combined to craft a 12.6% win rate in collecting $57.3 million in revenue. That was the fourth-highest total in 120 weeks of mobile betting in New York and the ninth time it topped $40 million.

Since all nine operators finished with positive revenue, the estimated taxes collected by the state for the week were $29.2 million.

DraftKings a popular spring draw

In addition to leading all operators in revenue, DraftKings was tops in handle for the second straight week. The $187.1 million in wagers was its fifth-highest total, while FanDuel was a relatively close second at $170.9 million.

FanDuel nearly kept pace in revenue as well, fashioning a 12.4% hold in claiming $21.2 million in winnings. It was the fifth time both FanDuel and DraftKings cleared $20 million in revenue in the same week, with the other occurrences taking place on the following dates in 2023: Jan. 22, Oct. 15, Dec. 10, and Jan. 14.

FanDuel also hit two milestone numbers for the week, surpassing $3 billion in handle for the 2024 calendar year and $900 million in all-time tax payments to the state.

Fanatics Sportsbook had its third-best week for revenue when including figures from its predecessor, PointsBet, laying claim to $1.7 million while notching a 9.7% hold from a $17.9 million handle. That pushed the all-time revenue total from the two operators above $60 million in the Empire State.

Caesars took the final podium spots for revenue and handle, narrowly missing a 9% win rate while keeping $3 million-plus of the $33.7 million in wagers placed. BetMGM had a 9.3% hold in collecting $2.8 million of the $29.7 million handle generated.

The $194,601 won by Bally Bet for the week was its fourth-best haul in New York, and the 11.7% hold attained was its second-highest since migrating its platform to Kambi and resuming operations last November. BetRivers came within $3,400 of $800,000 in revenue for the week, finishing with a 6.3% win rate from a $12.7 million handle.

Based on revenue collection rules for the fiscal calendar year that moved the final week of March’s activity into April statistics, New York’s nine mobile operators have a very good chance of helping the state set a new all-time monthly record for handle. The four-week total is currently $1.87 billion, well within range of the $2.12 billion standard established last November.

New York is the only state to surpass $2 billion in monthly handle, doing so in each of the final three months of 2023.

Source: SportsHandle

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