The summer continues to be a slow season for mobile sportsbooks in New York, as a recent weekly report confirms another decrease in gross gaming revenue for operators. For the last week of July 2023, the state’s currently eight active operators took in a betting handle of US$246.5 million. But the increase in volume also saw a drop in gross proceeds for the week.

Since January 2022, the Empire State offers legal mobile sports betting to its residents, which is provided through a total of nine licensed gambling operators. They are FanDuel, DraftKings, Caesars Sportsbook, BetMGM, PointsBet, WynnBet, BetRivers, Resorts WorldBET, and Bally Bet. However, the last one has been inactive for over a month now.

• Handle Increases but Proceeds Tumble

NYSGC reported an increase in betting activity by eight operators in the seven days ended July 30, 2023, but sportsbook yields were still not high, with their bets reaching $246.5 million, up 13% from the previous week ($217.8 million) and 38% from the same week last year, according to regulators.

However, the wage increase did not have a significant impact on total game revenue for the week, as $24.2 million in revenue was down 4% from the previous week. In July, eight sports books earned more than $200 million and $20 million in all but one week. In addition, sportsbook holdings fell to 9.8% in the week.

The week of July 30, 2023, was a rather difficult time for Panduel, who earned $95.2 million (up 2.8% from the previous week) in overall bets, but total game revenue was a problem when the gambling leader disclosed $4.9 million in revenue. It was the lowest in more than a year and the deepest time since April with a 5.14% holding rate.

DraftKings ranked third on the $94.5 million handle with a return of $13.3 million, with a return of 14.1% and a share of $26.5 million. BetMGM had an 11.5% share, ranking fourth with revenue of $16.1 million.

• the situation surrounding Bali Bet

For the fifth consecutive week ending July 30, 2023, there were only eight active operators, as the operator announced in June that it would be shutting down in New York. SAYS IT WILL TAKE WEEKS TO INTEGRATE KAMBI GROUP’S TECHNOLOGY AND RESUME ITS BUSINESS IN THE STATE DURING DOWN-TIME.

It seems natural for Bally Bet to take a break from Empire State because he hasn’t had the best results since his late entry into the mobile sports betting market. For example, in the week of November 13, 2022, Bally Bet was the only one to post a week’s loss. On the other hand, nine operators posted a total game revenue of $31.3 million.

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