New York sports betting soars in February
Fueled by 11% higher wagering, revenues for online sports betting operators in New York State leapt 41% in February. Books made $185 million from $2 billion in wagering, for a 9.4% hold rate market-wide.
FanDuel, in particular, saw good fortune, increasing its winnings 46% from February 2024. It grossed $93 million from $739 million wagered, as it held 12.5%.
DraftKings held more loosely, its win down 3% to $52 million. The company’s handle was $717 million. Its hold was the lowest of the top four: 7.2%.
Caesars Sportsbook experienced a sharp handle decline of 20%. It won $10 million out of $129 million bet. Its hold was 7.8%.
BetMGM enjoyed the second-best hold percentage, at 9.1%. Its handle was flat from 2024, $130 million. BetMGM’s $12 million in winnings was an exponential increase from the year previous, when it captured only $600,000 for the month.
Fanatics exceeded BetMGM in handle with $160 million, but came in behind it in win, garnering $11 million. ESPN Bet managed $4 million in winnings off $43 million of handle.
BetRivers won $3 million on handle of $42 million. All other operators combined for $1 million in revenue.
David McKee is an award-winning journalist who has three decades of experience covering the gaming industry.
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