![\"\"](\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2020\/09\/ESPN-300x74.png\")
The New York Gaming Commission’s latest report shows that during the week ending September 29th, the state’s operators collectively generated a staggering $516.8 million in wagers, marking a 31.3% year-over-year increase and a 7.6% week-over-week jump.<\/p>\n
The introduction of ESPN BET has further bolstered New York’s sports betting dominance. The online sportsbook, which acquired WynnBet’s operating license for $25 million earlier this year, managed to generate $3.04 million in wagers during its debut weekend, outperforming established players like Bally Bet and Resorts World Bet, who struggled to match this feat over an entire month.<\/p>\n
FanDuel and DraftKings, the market-share leaders, have continued to dominate the landscape, accounting for a combined 76% of the total handle. However, the emergence of new players like ESPN BET has shaken up the status quo, with the platform surpassing both BetMGM and Caesars in weekly handles, securing a $39 million wager total.<\/p>\n
The high-stakes nature of the New York sports betting market is further evidenced by the impressive hold rates achieved by the operators. FanDuel, for instance, recorded a 12.2% hold on its $198.2 million handle, generating $24.2 million in revenue, a 26% week-over-week increase. Caesars, on the other hand, achieved the highest hold rate, producing $3.8 million in revenue on a $34.7 million handle.<\/p>\n
Fanatics Sportsbook has emerged as a dark horse, surpassing both BetMGM and Caesars in weekly handles with a total of $39 million wagered. This impressive performance underscores the growing influence of the Fanatics brand in the sports betting landscape.<\/p>\n
The New York sports betting market has not only witnessed a surge in wagers but also a steady increase in revenue generation. For the week ending September 29th, the state’s operators combined to produce $52.7 million in revenue, a 21.1% increase from the previous week. This upward trend has been sustained, with the weekly sportsbook revenue reaching the fourth-highest mark of 2024 and the third consecutive week of more than $40 million.<\/p>\n
During the week ending September 29th, the Empire State’s sportsbooks experienced a slight dip in hold rates, with the overall hold percentage rising to 10.2% from the previous week’s 9.1%. This highlights the need for operators to remain agile and adaptable, constantly fine-tuning their strategies to capitalize on market fluctuations.<\/p>\n","protected":false},"excerpt":{"rendered":"
The New York Gaming Commission’s latest report shows that during the week ending September 29th, the state’s operators collectively generated a staggering $516.8 million in wagers, marking a 31.3% year-over-year increase and a 7.6% week-over-week jump. The introduction of ESPN BET has further bolstered New York’s sports betting dominance. The online sportsbook, which acquired WynnBet’s […]<\/p>\n","protected":false},"author":5,"featured_media":53021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3,8,18,132],"tags":[],"class_list":["post-63148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-headlines","category-igaming","category-latest","category-n-america","category-sportsbetting"],"yoast_head":"\n