New York mobile sports betting handle Friday surpassed $40 billion since launch after the state’s gaming commission reported $445.3 million worth of wagers placed for the week ending March 17.

The Empire State accomplished the feat in a mind-bending 115 weeks since the first wagers were placed via sports betting apps in January 2022. New York joins neighboring New Jersey as the only states to reach the $40 billion benchmark since sports betting expanded on a state-by-state basis in 2018, with Nevada within $1.5 billion while awaiting its February report.

The milestone came as part of a good week for the group of nine digital operators, which claimed $40.2 million in sports betting revenue to post a collective 9%-plus hold. FanDuel accounted for more than half of that total with $21.3 million as it crossed $200 million in revenue for the 2024 calendar year.

It was the sixth time in the last nine weeks total operator revenue surpassed $40 million. Revenue was up 8.8% compared to the week ending March 10 as the 9%-plus hold was nearly three-tenths of a percentage point higher.

Handle totaled $445.3 million, up 1.9% from the previous week, and cleared $4.8 billion for the first 11 weeks of 2024. Since all nine operators finished with positive adjusted gross revenue, the estimated taxes for the week are $20.5 million.

FanDuel continues to dominate Empire State

New York does not reach that lofty handle total without FanDuel’s impressive and immense presence in the mobile betting space. It has claimed more than 40% of the mobile market share since launch and crossed $2 billion in handle this year after accepting $178.9 million worth of wagers last week. Its 11.9% hold marked the seventh time this year it was above 10%, and FanDuel has recorded 27 of the 32 instances an operator has generated $20 million or more in weekly winnings.

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DraftKings accounted for more than 25% of the weekly winnings with $11.3 million, fashioning a 7.6% win rate from $148 million handle. It was the fifth consecutive week with an eight-figure revenue haul as it also moved within $20 million of $13 billion in total handle.

Caesars Sportsbook took the final podium spots for revenue and handle with $3.4 million and $48.9 million, respectively, while attaining a 6.9% hold. It has topped $3 million in weekly revenue six times in the first 11 weeks of 2024 and surpassed $5.4 billion in all-time handle.

It took five weeks, but BetMGM erased its record-setting $9.6 million loss for the week ending Feb. 11 that included $4.8 million in losses for Super Bowl LVIII. It claimed $2.2 million in revenue from close to $30 million handle, crafting a 7.3% hold.

Fanatics Sportsbook was the fifth operator to post a seven-figure revenue total, winning $1.1 million from $13.7 million worth of accepted bets for an 8.2% win rate. The total combined handle of Fanatics and previous licensee PointsBet is $11.9 million shy of $900 million.

BetRivers had its first $20 million weekly handle since accepting $22.1 million worth of bets the week ending Nov. 19, but it could not turn that into a notable revenue number. Its 3% hold was the lowest among the group of nine for the week, resulting in $616,200 in winnings.

Bally Bet had its third-highest handle at $2.7 million, but a 4.7% hold left it with $128,000 in revenue. The $2.3 million in wagering at Resorts World ranked fourth in its ledgers, and an 8.5% win rate left it with $192,800 in winnings.

WynnBET, whose parent Wynn Enterprises is finalizing the $25 million sale of its licenses to PENN Entertainment as it readies ESPN BET for the Empire State, had less than $600,000 handle and won $38,400 from a 6.4% hold.





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