New York sees dip in April mobile sports betting numbers
Empire State totals $1.39bn in lowest-handle month since launching in January
New York saw a dip in mobile sports betting numbers in April, with the state totaling just under $1.4bn in handle and $104.1m in revenue for the month.
The $1.39bn in handle, which represented a 15.2% month-over-month (MoM) drop from March’s $1.64bn, marked the Empire State’s lowest figure since launching in January.
Revenue for the month was down only 8.9% from March, however, thanks to a sportsbook hold percentage of just under 7.5%. In contrast, sportsbooks held less than 7% in March.
FanDuel remained the market leader in both handle ($599.5m) and revenue ($63.6m) for the third straight month after overtaking Caesars, which came out of the gate in January with the strongest promotional offer to grab the early lead.
Since the onset of February, New York has been emblematic of the greater US online landscape, with FanDuel and DraftKings running 1-2.
DraftKings handled $327.1m in wagers in April, resulting in $19.6m in revenue. Caesars, meanwhile, was third with $215.7m in bets and $11.8m in revenue, while BetMGM was fourth at $142.2m and $5.0m, respectively.
PointsBet and BetRivers continued to battle it out in the next tier, with PointsBet ($53.2m handle, $1.5m revenue) taking more wagers but BetRivers ($38.0m handle, $1.7m revenue) winning more from bettors.
The overall drop in betting activity coincided with a bigger slowdown on the sports calendar, which featured the Final Four of the NCAA tournament to begin the month and the start of the NBA playoffs in mid-April.
That trend is likely to continue into the even slower summer months until operators begin ramping up for another major acquisition push in advance of the 2022 NFL season.
Since launching online sports betting on January 8, New York has amassed $6.27bn in total handle.