DraftKings Sets Company High for New York Online Sports Betting…In August?

• DraftKings reported its highest ever New York online sports betting handle for the week ending Aug. 6
• It also set a DraftKings weekly record for gross gaming revenue
• New York reported $317.5 million in online sports betting handle for the week

DraftKings set a company high in New York online sports betting this past week, reporting its highest weekly handle total ever of $161.4 million and highest weekly revenue total of $25.1 million.

Let’s repeat that… DraftKings New York reported $161.4 million in total handle and $25.1 million in revenue New York online sports betting during a random August week, even topping company totals for the last two Super Bowls weeks.

$161.4 million in online sports betting handle and $25.1 million in revenue…in New York…for the week ending Aug. 6.

Well alright than!

DraftKings Record Setting New York Week

It was the most successful week of New York online sports betting ever for DraftKings and the most profitable for New York since May. The New York State Gaming Commission releases handle and revenue reports for Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, WynnBET, PointsBet, Bally Bet, Resorts World Bet, and BetRivers at the conclusion of each week.

Overall, the state gaming commission reported $317,04,491 in total online sports betting handle and $43,434,415 in revenue for the week ending Aug. 6.

DraftKings dominated the week, outpacing even top-operator FanDuel New York by $62 million in total handle and $13 million in revenue. DraftKings noted on its social media feeds that the Nate Diaz and Jake Paul fight on Aug. 5 set multiple DraftKings records.

According to the operator, the fight was the second most bet boxing match and the fifth most bet combat sports match on DraftKings of all time.

Jake Paul and Nate Diaz set multiple sports betting records Saturday night 👀 pic.twitter.com/rhWCISnK6U

— DraftKings Sportsbook (@DKSportsbook) August 8, 2023

Additionally, the New York Jets took on the Cleveland Browns on Thursday, Aug. 3, for the NFL’s annual Hall of Fame game, the first preseason NFL game of the year.

Despite it’s company record setting week, DraftKings fell short of the all time weekly handle and revenue highs, both of which have been set by FanDuel. FanDuel set the New York sports betting handle record of $188,336,202 for the week ending March 19, 2023, and the revenue record of $26,569,171 for the week ending Jan. 22, 2023.

Here are the handle breakdowns for the nine sportsbooks for the week ending Aug. 6:

• DraftKings: $161,404,051
• FanDuel: $99,252,423
• Caesars: $28,704,799
• BetMGM: $14,032,744
• BetRivers: $7,931,548
• PointsBet: $3,524,376
• WynnBET: $1,903,463
• Resorts World: $751,087
• Bally Bet: $0

Bally Bet ceased operations on June 22 while it transitions to Kambi’s sports betting platform. It will likely come back online before the year is out.

Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $10 billion in total handle so far.

• FanDuel: $10,660,721,492
• DraftKings: $8,168,647,930
• Caesars: 4,060,822,168
• BetMGM: $2,067,639,810
• BetRivers: $706,370,999
• PointsBet: $620,897,815
• WynnBET: $157,159,731
• Resorts World: $94,496,704
• Bally Bet: $16,370,924

NY Sports Betting Revenues

For the week of Aug. 5, the nine sportsbooks reported a total of $43,434,415 in gross gaming revenue.

At New York’s 51% online sports betting tax rate, this resulted in $22.15 million in tax revenue.

Here are the total gross gaming revenues for the week:

• DraftKings: $25,149,544
• FanDuel: $12,233,869
• Caesars: $2,988,917
• BetMGM: $1,885,558
• BetRivers: $492,381
• PointsBet: $401,756
• WynnBET: $169,407
• Resorts World: $112,984
• Bally Bet: $0

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

• FanDuel: $1,110,705,807
• DraftKings: $669,531,378
• Caesars: $301,406,026
• BetMGM: $136,443,697
• BetRivers: $40,497,878
• PointsBet: $37,901,357
• WynnBET: $9,608,909
• Resorts World: $5,235,422
• Bally Bet: $917,669