The curtain may have come down for PointsBet in New York, but not without a rousing finale.
The New York State Gaming Commission reported a weekly loss of $8 million for PointsBet for the week ending Feb. 25, the second-largest in 112 weeks of mobile sports betting in the Empire State that came during its final full week of operations prior to Fanatics Sportsbook launching Thursday.
| Date | Operator | Handle | Revenue | Win Rate |
|---|---|---|---|---|
| February 11, 2024 | BetMGM | $29,936,554 | -$9,603,349 | -32.08% |
| FEBRUARY 25, 2024 | PointsBet | $43,853,140 | -$8,024,565 | -18.30% |
| September 3, 2023 | DraftKings | $116,356,211 | -$3,424,944 | -2.94% |
| February 13, 2022 | FanDuel | $175,437,706 | -$2,726,650 | -1.55% |
| January 9, 2022 | FanDuel | $63,236,093 | -$2,725,965 | -4.31% |
| April 2, 2023 | BetMGM | $42,808,123 | -$1,840,577 | -4.30% |
| October 22, 2023 | BetRivers | $42,178,179 | -$1,640,477 | -3.89% |
| February 11, 2024 | Caesars | $47,308,449 | -$1,333,177 | -2.82% |
| February 12, 2023 | Caesars | $58,862,752 | -$1,315,651 | -2.24% |
| April 9, 2023 | BetRivers | $12,547,655 | -$1,031,811 | -8.22% |
Only the $9.6 million hit absorbed by BetMGM for Super Bowl week ending Feb. 11 was worse in state history as six of the nine digital sportsbooks in New York now have at least one weekly seven-figure loss in revenue. It was the 10th time an operator was knocked down by the public for a loss of at least $1 million.
Huge loss skews the numbers near normal
PointsBet’s loss dramatically altered the overall weekly results as it also posted a record weekly handle of $43.9 million, easily outpacing the previous high of $29.9 million set for the week ending Jan. 1, 2023. People wagered $413.9 million on their sports betting apps, up 1.7% from last week while topping $400 million for the 23rd time in the last 25 weeks.