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Super Bowl Boosts New York Sports Betting Handle

Super Bowl Boosts New York Sports Betting Handle

Super Bowl 57 caused the New York sports betting handle to increase by 28% to $424.3 million in the week to February 12.

The state’s online sportsbooks managed to hold just 2.8% of those wagers for revenue of $12 million, making it a strong week for New York sports bettors.

Many faded from the Philadelphia Eagles, who suffered a 38-35 defeat to the Kansas City Chiefs in the big game at State Farm Stadium in Arizona.

The Chiefs were the underdogs heading into the game, but they covered the spread with ease. “Over” paid off on the total points line, while bettors that picked Patrick Mahomes to be named Super Bowl MVP cashed their tickets too, hammering the books.

The sports betting handle was 28% lower the previous week, but sportsbooks held revenue of $41.2 million in the seven days to February 5, which is a healthier 12.4% hold rate.

FanDuel continues to hold a narrow lead over DraftKings, with a handle of $165.4 million and revenue of $9.2 million during Super Bowl week.

DraftKings handled $150.4 million in sports wagers and kept hold of $2.9 million in revenue in the week to February 12.

Caesars Sportsbook had the third largest handle in the Empire State ($58.9 million), but it swung to a $1.3 million loss over the seven-day period.

BetMGM was fourth, while the remaining five online sportsbooks in the state posted comparatively minor handle and revenue figures, as is generally the case in New York.

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