Betting News

New York online sports betting revenue rose 34% in May

The state of New York is currently experiencing a significant increase in online sports betting, which has resulted in a 34% increase in overall revenue collection and a 45% increase in handle.

This is being attributed to the high hold of 10.3%, which ensured revenue generation of $203.3 million, surpassing the $1.9 billion threshold. 

DraftKings took pleasure in sharing the spoils, with its wins reaching $84.2 million, signifying a significant 76% increase, while its handle reached $812 million. This speaks of a 72% jump. 

Despite being ahead in terms of total betting amount, the operator claimed the second position with regard to revenue collection. Topping the list was FanDuel, coming in for $88 million, signifying a 16% jump. Its handle stood at $748 million, a 33% increase compared to the same period last year.  

Caesars Sportsbook experienced a downward trend, positioning itself in third place and raking in $11.1 million, a drop of 20%.

In the case of BetMGM, it witnessed an increase of 25% in terms of handle, reaching the figure of $117 million. Low hold managed to bring it down to $8.2 million. 

A fresh entrant, Fanatics, saw its handle go past the 27% mark, standing at $72 million in terms of betting amount, with revenue collection reaching $7 million, an increase of 478% as compared to 2023. BetRivers saw a 27% increase, earning $3.6 million.

BallyBet’s handle increased 264%, reaching $8 million. Resorts World Bet came in with a handle of $8 million, an increase of 99%, with WynnBet following with $2 million in terms of betting amount, a drop of 75%.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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