DraftKings Sets New Revenue Record Amidst New York’s Busy Betting Week
For the week ending May 12, DraftKings reported $36.5 million in betting revenue, surpassing the previous record held by FanDuel.
Cumulative Revenue Reaches New Heights
The overall performance of licensed sports betting operators in New York also saw notable growth. The cumulative mobile betting revenue for the week ending May 12 reached a new high of $70.9 million.
This figure represented an increase of approximately $4 million from the previous record of $67.3 million, set in mid-January 2024.
The surge in revenue was driven by a betting handle, which totaled $532.3 million for the week. This was the second-highest weekly handle for the year, only slightly behind the $539.6 million reported for the week ending March 24.
Despite the higher handle in March, the revenue generated during that period was significantly lower, at $31.2 million, compared to the $70.9 million achieved recently.
FanDuel’s Strong Performance
FanDuel also posted impressive results during the week ending May 12. The operator handled $199.1 million in bets, generating $26.9 million in revenue.
While this was a substantial figure, it was approximately $10 million less than DraftKings’ revenue for the same period. The difference in earnings can be attributed to DraftKings’ high hold rate of 15.8%, which significantly boosted their revenue.
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