Gambling Trends: NY Sports Betting, Vegas Strip Hotel Prices, NJ Gaming Revenue Tips
In the dynamic world of sports betting, financial analyst J.P. Morgan's Joseph Greff scrutinizes the market's performance in New York.
"With the latest weekly online sports betting figures (from March 9, 2025), the New York Gaming Commission is reporting a quarter-to-date Gross Gaming Revenue (GGR) surging by 19% year-over-year, as handle escalates by 22%. This translated to an 8.9% hold rate in comparison to the 9.0% rate during the same period in 2024 [1].
For the week ending March 9, 2025, GGR skyrocketed by 12% year-over-year, while handle burgeoned by 29%, leading to a 7.4% hold rate versus 8.5% during the March 10, 2024 period."
Top Operators
Let's dive into the performance of the top operators in the market:
FanDuel
"Quarter-to-date, FanDuel's gross revenue is experiencing a 10% year-over-year increase, with handle up by 8%. Currently, the operator boasts a 10.9% hold rate, marking a 19 basis point year-over-year improvement [1]."
DraftKings
"Quarter-to-date, DraftKings' gross revenue is somewhat moderated with a 5% year-over-year hike, while handle surges by 28%. Despite this, the hold rate takes a hit, falling by 169 basis points to 7.8% [1]."
BetMGM
"BetMGM's quarter-to-date gross revenue casts an impressive 121% year-over-year growth, with handle witnessing a 29% surge. The resulting hold rate ascends by 329 basis points to 7.9% [1]."
Caesars
"Caesars' quarter-to-date gross revenue incurs a 15% year-over-year spike, while handle registers a 18% decline. Despite this, the hold rate climbs significantly by 228 basis points to 8% [1]."
ESPN BET
" ESPN BET's quarter-to-date GGR share amounts to 2%, and handle share mirrors this figure [1]."
With sports betting gaining ground across the nation, we can't overlook the vibrant Las Vegas Strip. Keep reading to learn more about Vegas betting trends.
[1] J.P. Morgan's Joseph Greff, March 14[2] Rege Behe, our website, March 15[3] New York State Gaming Commission[4] Truist Securities' Barry Jonas, March 13 survey[5] Analyst Brief: Monthly New York Sports Betting (November 2024)
- Financial analyst Joseph Greff from J.P. Morgan has reported that the online sports betting market in New York has seen a 19% year-over-year surge in Gross Gaming Revenue (GGR) for the quarter-to-date, as handle escalates by 22%.
- For top operators like FanDuel, DraftKings, BetMGM, and Caesars, quarter-to-date GGR growth varies, with FanDuel experiencing a 10% increase, DraftKings a 5% hike, BetMGM a 121% surge, and Caesars a 15% spike.
- In the world of casino-and-gambling, Caesars stands out with a significant 228 basis points increase in their hold rate despite a 18% decline in handle.
- ESPN BET currently holds a 2% share of GGR and handle in the New York market.
- As sports betting continues to expand across the US, it's essential to keep an eye on the trends in other gambling hubs, such as the vibrant Las Vegas Strip.
