New York’s Sports Betting Revenues Set New Records in Late April
Despite a brief dip that interrupted an eight-week streak of generating over $30 million in revenue, New York’s online sports betting market quickly rebounded, showcasing its dynamic nature.
In the week ending April 21, revenues surged by 109.1%, reaching $57.3 million. This marked one of the most impressive weekly gains in the state’s betting history.
A Look at the Betting Handle
The total amount wagered remained impressively high, with the New York Gaming Commission reporting a weekly handle of $455.8 million.
Although this represented a 6.5% decrease from the previous week, it was the 27th time in 28 weeks that the betting handle surpassed $400 million.
DraftKings Achieves a New Milestone
DraftKings, one of the leading operators in the Empire State, also recorded another milestone by posting the largest week-over-week revenue rise.
The operator’s earnings soared from $7.1 million to $27.3 million, setting a new record for the online sportsbook since the post-Super Bowl period.
While the brief downturn might have raised concerns in NYC, the swift recovery indicates that it was more of an aberration rather than the start of a downtrend.
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