Sports Betting

The Empire State is on target for a monthly sports betting handle in April with just over $2.3 billion

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For the week ending on April 28th, the New York State Gaming Commission reported a sports betting handle of $440.9 million. New York is in line to break their national record for wagering in one month. That is because tax revenue wagering from March 25-31 was collected on April 1. It moved that week’s betting activities to the April monthly ledger. This means that April had five full weeks off of handle and sports betting revenue. 

Across the state, New York saw $2.3 billion wagered over the five weeks in April. Beating their previous record of $2.12 billion in November 2023. Additionally, New York is the only state to eclipse $2 billion in a monthly betting handle. This is the 4th time the Empire State is expected to do this. During the final week of April, nine digital operators collected at least $39.5 million in revenue. In five weeks of mobile sports gambling in New York, they had $208.1 million in operator revenue.

What figures did major sportsbooks in New York record for April?

Arguably the most profitable sportsbook in the US is FanDuel. They’re one of the top competitors in the industry. For April, FanDuel is expected to surpass $100 million in revenue in New York. Their five-week total is expected to reach $102.7million.This past week, FanDuel had $22 million in revenue and had an 11% hold against the $189.7 million handle in New York. For their all-time revenue in New York, FanDuel has made $1.8 billion. 

The next largest sportsbook in the US is DraftKings. In April, they had $152.8 million worth of wagers and made $10.7 million in revenue. Last week, DraftKings saw a record-setting haul of $27.3 million. DraftKings just surpassed a $14 billion betting handle in New York. For six consecutive weeks, they’ve accepted over $150 million in wagers. 

Caesars Sportsbook was third in April with $2.2 million in revenue and a betting handle of $37.4 million. The next closest was BetMGM with $29.3 million in bets placed for April. Additionally, Fanatics made at least $1 million in revenue and had a betting handle of $16.1 million. That rounded out the five mobile sportsbooks in New York.