In August, New York sportsbooks generated a $1.4 billion handle

After high holds in July for operators in New York, they did not experience the same luck in August. Even with an 11% month-over-month increase in the amount wagered, the operator’s win rates fell below double-digits for the second time in the last three months. The New York Gaming Commission (NYGC) reported that New York’s eight online sportsbooks generated a $1.4 billion handle in August. That was a 27.3% increase year-over-year. In July, New York’s 10-month streak of a handle of at least $1.4 billion ended. It was only right for sportsbooks in the Empire State to get back on track in August. From that $1.4 billion handle, state operators collected $125 million in revenue. New York operators saw a 27% year-over-year increase in handle in August. That was thanks to the end of the Olympics, the MLB season, the NFL preseason, and the start of college football.

What sportsbooks were the most profitable in New York in August 2024?

For the first time since May, DraftKings was able to beat FanDuel for the top handle spot with $526.6 million worth of wagers in August. FanDuel was not far behind DraftKings with $511.6 million worth of wagers with a 10.2% hold to lead all New York sports betting operators. That generated $52.6 million in revenue for FanDuel. BetMGM’s $127.9 million handle was the third-most for all operators in New York. Their 5.5% hold led to $7 million in revenue. Caesars Sportsbook had $119.1 million worth of wagers and $9.4 million in profits. Fanatics sportsbook had a $93.1 million handle and $8.5 million in revenue. This was their best month since taking over PointsBet in February.

BetRivers generated $5 million in wagers in August but revenue fell from $3.5 million in July to $3.2 million in August. Resorts World Casino saw $8.6 million wagered in August, their highest mark since December 2023. August was the first month that WynnBet did not operate in the market. There are now eight online operators in New York. Earlier this year, WynnBet sold its NY operating license to ESPN BET. After Penn Entertainment announced the acquisition of WynnBet, Penn CEO Jay Snowden mentioned how ESPN BET would launch in August. However, it’s the second week of September and ESPN BET is still not live in the Empire State.