MLB Same Game Parlay Picks, Odds & Predictions – Saturday, May 18
May 16, 2024
Strong Numbers for Iowa Sports Betting in April
May 16, 2024
For the fourth time in history, the New York State Gaming Commission came close to hitting the $2 billion mark when it released its April sports betting handle figures on Friday. The total was close to $1.97 billion. The revenue collected on April 1st, during the last week of March, contributed somewhat to the April numbers. In New York, that marks the beginning of the fiscal year, and the numbers were transferred into the April ledger. This led to a rare increase in month-over-month handling of 6.2% from March across the industry and a 20.6% gain in sports betting revenue to $184 million.
Check out the latest sports betting odds at Caesars.
The handle gives New York an even greater monopoly on the top-10 all-time totals, ranking fourth nationally all-time in the post-PASPA era. The Empire State boasts eight of the top ten monthly operator winners, while New Jersey and Ohio each have one. The revenue total also ranks fourth nationally.
In comparison to April 2023, handles climbed by 27.1%, and the 9.3% hold contributed to a 32.1% gain in income. Through the first four months of 2024, the total amount of bets received was $7.57 billion, a 14.4% rise from the same period the previous year. The nearly 9% win rate has brought in $679.6 million in revenue, a 21.1% increase.
Nine mobile providers in New York accounted for all but $27,220 of the $93.8 million in taxes collected by the state. Revenues this year totaling $345.1 million are $59.6 million higher than the same period last year and are expected to surpass $1 billion, which is twice as much as the amount that former governor Andrew Cuomo had predicted when he advocated for sports betting apps to be accessible in the Empire State prior to their final release in January 2022.
FanDuel had an 11.7% win rate to bring in $91 million on $780.5 million in bets, avoiding its third consecutive month with a sub-10% hold, which only happened in the first three months of mobile betting in New York. With that, the digital giant’s overall income in the Empire State surpassed $1.8 billion.
DraftKings’ handle increased by 42.7% year over year to $737 million, and an 8.6% hold produced a $63.2 million profit for April. In the last eight months, DraftKings has generated over $60 million in revenue each month for the fourth time.
In terms of market share, Caesars’ $158.8 million in accepted bets accounted for 8.1% of the $1.96 billion in total mobile handling, an all-time low. Although it claimed $10.4 million in April and cleared $400 million in total revenue, its 5.6% win rate was over 3.4 percentage points lower than in March.
Check out the latest sports betting odds at Caesars.
With a handle of $130.2 million, BetMGM placed fourth overall and had its highest since totaling $142.2 million in April 2022. It generated $9.1 million in revenue, which was 7% of the market and the fourth-best in the last 28 months.
In its first full month of operation in New York, Fanatics Sportsbook recorded $5.6 million in revenue, an all-time high when predecessor PointsBet is taken into account, marking a 7.5% hold. Additionally, with $74.1 million in wagers taken for April, it achieved a 3% mobile handling market share for the first time since February 2022.
In March, BetRivers’ month-over-month totals showed minimal change in either category. The company’s $67.1 million handle saw an increase of about $1 million, while its $3.3 million in income saw a decrease of $81,400, translating into a 4.9% win rate.
