FanDuel extended its streak of double-digit holds in New York to six weeks after the state’s Gaming Commission reported $32.2 million in mobile sports betting revenue for the week ending June 16 on Thursday.
The leading sports betting app in the Empire State for handle and revenue crafted an 11.1% hold from $137.7 million in handle for the week, resulting in $15.2 million in winnings. The six-week run of win rates above 10% is FanDuel’s longest since doing so in seven consecutive weeks from Oct. 9-Nov. 20, 2022.
The nine digital operators combined for an 8.9% hold from $362.8 million worth of accepted wagers. Handle was up 5% from the previous week while revenue declined 8.4% as the hold for the week ending June 9 was 1.3 percentage points higher. All nine sportsbooks finished with positive revenue, resulting in an estimated $16.4 million in state taxes.
FanDuel Also Close to $1 Billion in Taxes
FanDuel also has a six-week stretch of at least $15 million in revenue, its longest since doing so for nine straight weeks from Dec. 10-Feb. 4. It is $65.1 million shy of $2 billion in all-time revenue in the Empire State, and the state’s 51% tax on those winnings has left it $13.2 million shy of $1 billion in receipts paid to the state.