Sports Betting

DraftKings Is Overtaking FanDuel As Top NY Sportsbook After Record Revenue

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DraftKings New York pic

Mobile sportsbooks in New York are thriving. Especially within the last two weeks. For the week ending on May 12, New York reported more than $70 million in gross gaming revenue (GGR). The New York Gaming Commission confirmed the sportsbooks in the state made $70.9 million in GGR. A record for wagering in the Empire State. Their total revenue was taken from a handle of  $532.3 million. 

That’s the third highest in New York since they introduced sports betting. Additionally, it’s their first half-billion total since March. The $70.9 million revenue is more than half of the GGR that New York made in all of April. Proving just how successful the week ending on May 12 was. In New York, they have a 51% gaming tax. Their impressive week brought in $36 million in tax revenue. Two million more than any other week on record. New York can thank DraftKings for helping make it happen.

Detailing DraftKings’ best betting week ever

In the week ending on May 12, DraftKings had $36.5 million in revenue thanks to an outstanding 15.8% hold in New York. It’s the sports betting operators’ best week ever in terms of betting revenue. Additionally, DraftKings has now recorded back-to-back weeks with at least $200 million in a handle for the first time, FanDuel previously held the record of $33.4 million in one week. 

Five sportsbooks in New York totaled $1 million in revenue for the week ending on May 12. They were DraftKings, FanDuel, Caesars, BetMGM, and Fanatics. BetRivers fell $40,000 short of topping $1 million. However, their betting handle in that one week eclipsed more than $10 million. Every New York mobile sportsbook except Resorts World Bet saw a rise in weekly profits. 

The top three sportsbooks in New York in terms of GGR are FanDuel, DraftKings, and Caesars. Of the nine sportsbooks in the state, FanDuel has the highest all-time total of nearly $18 billion. DraftKings is in second with $14.5 billion and Caesars ranks third with $5.7 billion. Nine of the eight sportsbooks in New York saw a 6% hold or higher in the week ending on May 12. Resorts World Bet was the outlier at 2.7%.