The online betting apps to one of their lowest weekly all-time holds while pushing handle over $500 million in back-to-back weeks for the first time.
According to the New York State Gaming Commission, the $516.6 million worth of accepted wagers for the week ending Nov. 26 ranks fourth all-time in 98 weeks of mobile wagering, while also being down 2.4% from the $529.5 million handle from the week ending Nov. 19. But as in the previous three instances with more than a half-billion dollar handle, New York’s mobile sportsbooks could not make hay, limited to a hold under 4.2% that resulted in $21.5 million worth of revenue.
| Week Ending | Mobile Handle | Hold | Hold Rank out of 98 Weeks | Revenue | Revenue Rank out of 98 weeks |
|---|---|---|---|---|---|
| January 23, 2022 | $572,552,146 | 7.55% | 67th | $43,202,492 | 10th |
| October 29, 2023 | $527,389,605 | 5.46% | 83rd | $28,784,912 | 43rd |
| November 19, 2023 | $529,467,646 | 7.68% | 66th | $40,669,246 | 14th |
| November 26, 2023 | $516,595,390 | 4.16% | 91st | $21,502,690 | 72nd |
That hold ranks 91st of the 98 weeks of mobile betting and the lowest since a 2.7% hold for the week ending Sept. 3. It was the lowest of the four holds when handle cleared $500 million and the 13th overall to be below 5%.
WynnBET achieves record losing streak 125z2w
Michigan, Nevada, and New York in August.
| Week Ending | Handle | Hold | Revenue |
|---|---|---|---|
| June 19, 2022 | $1,571,145 | -1.39% | -$21,807 |
| September 25, 2022 | $2,311,111 | -1.54% | -$35,584 |
| November 20, 2022 | $3,343,646 | -1.94% | -$65,021 |
| November 27, 2022 | $3,422,825 | -0.83% | -$28.375 |
| January 1, 2023 | $2,187,065 | -3.32% | -$72,623 |
| April 9, 2023 | $1,920,223 | -1.40% | -$26,862 |
| June 4, 2023 | $1,569,289 | -4.13% | -$64,794 |
| September 3, 2023 | $2,123,677 | -1.73% | -$36,727 |
| September 10, 2023 | $2,510,881 | -8.80% | -$221,081 |
| October 22, 2023 | $3,042,626 | -3.78% | -$115,097 |
| November 12, 2023 | $2,231,619 | -3.96% | -$88,397 |
| November 19, 2023 | $2,859,921 | -5.81% | -$166,031 |
| November 26, 2023 | $3,105,134 | -2.41% | -$74,932 |
| December 17, 2023 | $2,048,048 | -10.01% | -$204,996 |
WynnBET has paid out $330,000 above the $8.2 million handle generated in that three-week span, and it has posted losses on four of its top five weekly handle totals. WynnBET is also in danger of becoming only the second mobile operator in New York to have a losing month after Bally Bet finished $31,467 in the red in October 2022.
WynnBET, though, was not the only operator to have Thanksgiving spoiled. Resorts World absorbed a loss of $73,703 on more than $1.7 million worth of wagers. It was Resorts World’s first weekly loss since Oct. 1, its fourth-largest, and 12th overall.
No operator reaches 6% hold 5e647
Among the seven remaining books that turned a weekly profit, none of them reached the industry standard of a 7% hold. Caesars rounded out the group of seven at 1.3% and 0.9%, respectively.
It was just the second time that all nine operators failed to reach the industry-standard 7% hold, with the other instance occurring the week of Dec. 18. There were two instances where all eight operators conducting wagering — Bally Bet was offline on both occasions — failed to do so for the weeks of May 1, 2022, and June 5, 2022.
FanDuel paced all operators with an $11.6 million hold, as its $214.7 million handle ranked fourth all-time. DraftKings accepted $186.9 million worth of wagers, its second-highest total, but a 4.3% win rate meant revenue reached only $7.9 million.
BetMGM came out less than $396,000 ahead on $29.4 million handle, while Caesars was nearly $495,000 to the good on $55 million handle — its highest since $63.1 million worth of bets placed for the week of March 19. PointsBet’s first-in-class hold helped generate more than $379,000 in winnings from $6.4 million handle, while BetRivers claimed a rare podium finish for revenue with more than $771,000 off $17.3 million in wagers for a 4.5% win rate.
