The post New York Weekly Mobile Handle Falls Just Short Of $530 Million appeared first on SportsHandle.

The New York State Gaming Commission reported weekly mobile sports wagering handle totaling close to $529.5 million for the week ending Nov. 19, the second-highest total in 97 weeks since mobile betting became available at the start of last year.

Though the $572.6 million for the week ending Jan. 23 of last year remains the standard, last week’s total marked the second time in four weeks that Empire State operators accepted more than one-half billion dollars worth of wagers. The convergence of the NFL, NBA, NHL, and both college football and basketball has proven to be a busy time for New York’s betting apps, whose combined handle the past five weeks has exceeded $2.45 billion.

The lofty handle did not lead to a top-ranking revenue, however, as the nine sportsbooks combined to claim $40.7 million in revenue, which includes WynnBET paying out more than $166,000 above its $2.9 million in wagers accepted. The overall hold was 7.7%, which was the highest of any of the three weeks handle has surpassed $500 million.

Operator revenue has topped $40 million in four of the last six weeks of wagering, a run that started with the all-time record haul of $62 million for the week ending Oct. 15. Handle was up 16.6% compared to the previous week, but the hold being two full percentage points lower contributed to revenues declining 7.4%.

Bally Bet takes first bets since June

New York bettors finally had all nine mobile wagering options available for the first time since the week of June 25 as Bally Bet came back online. It had shut down operations in July to migrate its sports betting platform to Kambi Sports following the inability to gain traction with its previous platform, Bet.Works, which it acquired for $125 million in 2020 as part of a $700 million buying spree.

Bally Bet set an in-house record for handle in its return, accepting close to $1.8 million worth of wagers — a sum totaling nearly 10% of its all-time handle in New York and enough to beat out Resorts World ($1.4 million) to not finish last for the week. Bally Bet had a modest hold of 3.1% to claim just shy of $54,000 in winnings, its fourth-highest total overall.

Bally Bet did not finish last in revenue because WynnBET absorbed its second straight losing week and 12th overall — the most of any mobile book in New York. It is also in danger of becoming just the second operator to finish with a losing month, as the three November reports show WynnBET down a combined $164,345. Bally Bet is so far the only mobile operator to post a monthly loss in the Empire State, with the public coming out $31,467 ahead in October 2022.

FanDuel, DraftKings keep status quo at top

FanDuel accounted for close to half of all New York handle for the week at nearly $262.3 million, its second-highest total in the state behind the all-time record of $274.7 million established Oct. 29. Its hold was narrowly above 7%, resulting in $18.4 million in revenue — enough to lead all mobile sportsbooks.

Double-digit holds have been harder to come by for FanDuel during the NFL season, as the leviathan has done so just four times since the start of September after doing so 18 times in 22 weeks from April through August. Despite the “slump,” FanDuel still has an all-time win rate of 10.3% in New York and crossed $13 billion in total handle with this week’s report.

DraftKings was a distant second in handle at $154.1 million, but its 9.2% win created $14.2 million in revenue for a more firm runner-up showing in that category. It has posted a hold of 9% or better in five of the last seven weeks and has moved within $10 million of $850 million in all-time revenue.

Caesars took the final podium spots in handle ($46.4 million) and revenue ($4.3 million), crafting a 9.3% hold for the week. It was the ninth consecutive week Caesars generated $40 million-plus in handle, and the second time revenue topped $4 million in that span.

BetRivers continued to see an upswing in action, clearing $20 million in handle for the fourth time in six weeks at $22.1 million. Despite a sub-5% hold, BetRivers extended its run of $1 million-plus revenue totals to four weeks, claiming close to $100,000 above the benchmark. The $178.5 million handle generated over the last eight weeks has accounted for 19% of its all-time handle of $950 million.

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