The post New York Mobile Sportsbooks Top $500 Million Handle For Fifth Time appeared first on SportsHandle. New York's mobile sportsbooks topped $500 million handle for the fifth time, while BetRivers became the fifth operator to reach $1 billion....

The post New York Mobile Sportsbooks Top $500 Million Handle For Fifth Time appeared first on SportsHandle.

On Thursday, the New York State Gaming Commission reported $502.2 million in mobile sports wagering handle for the week ending Dec. 17, the fifth time operators in the Empire State processed more than half-a-billion dollars worth of wagers.

Last week’s handle ranks fifth out of 102 weeks with mobile betting apps available in New York, with four of the five instances of $500 million handle occurring in the last eight weeks. The overall record remains the $572.6 million wagered for the week ending Jan. 23, 2022, the second full week mobile betting was available.

There was an even more rare occurrence this past week, as it was only the third one in which three operators finished in the red. Bally Bet, WynnBET, and BetMGM all paid out six-figure amounts totaling $1.1 million, which knocked down the overall adjusted gross revenue total among the nine mobile books to $41.8 million. That was still good for 15th overall, but the 8.3% hold ranked 59th and was more than 5.5 percentage points lower than the previous week.

DraftKings finally gets over $200 million hump

Weekly mobile #SportsBetting numbers for #NewYork via @NYSGamingComm. Han/Rev/WR by operator (4/9)@DKSportsbook $218.09M/$18.12M/8.31%
Running Dec: $557.44M/$51.77M/9.29%
Running Tot: $11.02B/$900.8M/8.18%

7/x #sportsbettingtwitter #gamblingtwitter

— Chris Altruda (@AlTruda73) December 21, 2023

After flirting with $200 million weekly handle on multiple occasions, DraftKings became the third operator to surpass it after accepting $218.1 million worth of wagers. The weekly number topped DraftKings’ previous best of $196.1 million from Oct. 1 and ranks fourth overall.

DraftKings also posted a top-five all-time weekly revenue total by keeping over $18.1 million, crafting an 8.3% hold. The online titan also surpassed $900 million in all-time revenue.

Resorts World ($2.5 million) and Bally Bet ($1.3 million) also had top five weekly handle amounts, with Bally’s entire top five comprised of the five weeks of wagering since its return after four months of migrating its platform to Kambi Sports.

FanDuel paced all operators in revenue with $19.9 million and had a 10.9% win rate, marking the first back-to-back weeks that the sportsbook has posted a double-digit hold since those ending Oct. 15 and Oct. 22.

Fanatics-owned PointsBet had the best hold among the group of nine mobile platforms at 12.5%, claiming more than $777,000 from $6.2 million wagered. Despite a top-two handle all-time, Resorts World collected less than $96,000 in winnings due to a low 3.8% win rate, while Caesars‘ hold landed right on the overall weekly mark of 8.3% as it picked up $3.6 million in revenue from $43.6 million handle.

BetRivers became the fifth of New York’s nine operators to surpass $1 billion worth of accepted wagers, as its $9.4 million handle was enough to reach the milestone with almost $4.8 million to spare. Nearly a quarter of that handle has come in the last 12 weeks, highlighted by a weekly record of $42.2 million worth of bets for the week ending Oct. 22.

Bally Bet takes one on the chin

Though handle has clearly improved for Bally Bet since its four-month absence, it still ranks last in that category. That made its weekly loss of $691,529 all the more surprising. It is the ninth-worst loss of any mobile book in New York since launch, and three other operators have not had losses exceed that amount.

It was the first time at least three operators had losses in the same week since April 9, when BetRivers, Caesars, Resorts World, and WynnBET all finished in the red after Connecticut won the NCAA Tournament. BetRivers accounted for the bulk of the $1.3 million in losses with a net payout of minus $1,031,811.

WynnBET’s loss of $204,996 last week was its second-worst behind the $221,081 paid out above handle on Sept. 10, while its minus 10% hold was its all-time worst. WynnBET has taken losses in 14 of the 102 weeks of mobile betting, the most of any operator.

BetMGM had the smallest loss of the trio at just under $163,000, with a hold slightly better than minus 0.5%. It was the fourth overall weekly loss for BetMGM, whose $35.6 million handle was its highest since April 2 — when it posted its worst weekly loss at minus $1.8 million.

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