ESPN BET Generates $3M in First Three Days Live in New York

ESPN BET made a notable entry into New York's competitive sports betting scene, generating $3 million in wagers within the first three days of its mobile launch, according to data released by the New York State Gaming Commission. With $165,673 in revenue and a 5.4% hold rate—the lowest among the state's nine operators—ESPN BET's initial handle surpassed the monthly totals of smaller rivals Bally Bet and Resorts World Bet, indicating a promising start.

The debut coincided with a period of significant growth in New York's sports betting sector. The total weekly handle reached $516.8 million, marking a 31.3% increase compared to the same week last year and a 7.6% rise from the previous week. This was the fifth consecutive week during the football season with over $400 million wagered, underscoring the market's consistent expansion. The state's operators collectively reported $52.7 million in revenue for the week, a 21.1% increase, driven by a 10.2% hold rate, which contributed an estimated $26.9 million in state tax revenue.

In the race for market dominance, FanDuel reclaimed the top spot with a $198.2 million handle, earning $24.2 million in revenue from a 12.2% hold—a 26% increase from the prior week. DraftKings followed closely, reporting a $196.3 million handle and $17.4 million in revenue with an 8.9% hold rate. Other key players included BetMGM, which handled $32.9 million and generated $3.5 million in revenue from a 10.5% hold, and Caesars, with $34.7 million in wagers and $3.8 million in revenue from a 10.9% hold.

Fanatics Sportsbook led the smaller operators with $39 million in wagers, though it earned just $2.3 million due to a 5.8% hold. Meanwhile, Resorts World and Bally Bet, among the smallest digital operators, posted the highest holds of the week at 15.2% and 13.7%, respectively. Resorts World secured $213,583 in revenue, while Bally Bet neared the $1 million revenue mark over five weeks, bringing in $313,138.

ESPN BET's launch followed its $25 million acquisition of mobile sports betting licenses from Wynn Interactive Holdings, positioning the platform to make a significant impact in New York's rapidly growing market.