Thanks to a massive influx of wagering from at least one bettor at Fanatics Sportsbook, New York’s sports betting handle reached $2 billion for the first August ever.
Key Takeaways
- New York’s online sportsbooks saw a 41.7% year-over-year increase in handle
- Fanatics Sportsbook put up a record handle, mainly because of one bettor
- College football’s Week 1 upsets led to massive win rates for FanDuel and DraftKings at the end of the month
The New York Gaming Commission reported on Thursday that $2.04 billion in bets were accepted for the month, with about $1.6 billion of that total coming in the back half of August.
The commission informed Covers on Aug. 22 that a single bettor wagered over $119 million during the week ending Aug. 17, surpassing the handle of over $458 million. Most of that appeared to be bet at Fanatics, which nearly tripled its previous weekly handle record with $147.3 million.
That was surpassed the next week with over $212 million wagered at the online sportsbook, and then another $145.8 million was bet in the final week of August, giving Fanatics a new monthly handle record of $565.8 million. That was good enough to finish second in the Empire State, just ahead of powerhouse FanDuel.
The amount wagered at New York online sports betting operators in August increased 41.7% from the same month in 2024. It’s also the fifth month in 2025 to reach $2 billion in handle and the first since May.
Revenue spikes
New York’s online sportsbooks generated $178.2 million in gross revenue during August, a 41.4% year-over-year increase. Profits also spiked over 14% from July, and it’s also the most lucrative August on record in the Empire State. All of that revenue led to a $90.9 million monthly tax payout to New York.
Fanatics was the primary reason, though, for New York producing a hold of 8.7%, which matched August 2024’s win rate but was the second-lowest of 2025 and first below double digits since April.
The online sportsbook only won back 2.8% of that massive hold, meaning that the single bettor likely did very well for themselves. No other mobile operator had a win rate under 7% in August.
Big month for DraftKings, FanDuel
| Online Operator | August Handle | Revenue |
|---|---|---|
| DraftKings | $579.6 million | $62.3 million |
| Fanatics Sportsbook | $565.8 million | $16 million |
| FanDuel | $561.9 million | $66.9 million |
| BetMGM | $130.3 million | $13.8 million |
| Caesars | $113.4 million | $10.7 million |
| BetRivers | $40.8 million | $4 million |
DraftKings generated a $579.6 million handle in August, the highest of any operator during the month and $70 million more than in July. The online sportsbook also hauled in $62.3 million in gross revenue from a 10.7% hold.
Although FanDuel took a backseat to Fanatics for a change in handle, the operator still dominated the state with revenue of $66.9 million, thanks to an 11.9% win rate. FanDuel also accounted for 37.5% of the Empire State’s online sports betting tax revenue.
BetMGM continued to hold down the fourth spot in handle, taking in over $130 million in wagers for the first time since May. The operator cashed in on $13.8 million of gross profit, its third-highest total of the year. Caesars improved upon July with a $113.4 million handle and revenue of $10.7 million.
BetRivers barely beat out ESPN BET in handle, as both reached $40.8 million. The Rush Street Interactive platform hauled in about $400,000 more than the PENN Entertainment brand for the month. Bally Bet produced a 7.2% hold from an $11.7 million handle.
Operators feast on upsets
The final week of August generated a handle of $558.1 million, the highest since the week ending March 9 and the second consecutive week over $500 million for the first time since mid-May.
Gross revenue for the week ending Aug. 31 increased 94.7% week-over-week to $66.6 million, the most for New York’s online operators since the last week of May. The 11.9% hold was nearly double from the previous week. Operators feasted on bettors from opening weekend upsets in college football, with Texas losing at Ohio State, Clemson falling to LSU, and Notre Dame going down at Miami in three top-10 matchups.
Fanatics made nearly its entire monthly profit during the last week of the month, hauling in $14.8 million in gross revenue. DraftKings generated $20 million in gross revenue from a $166.3 million handle, while FanDuel’s $152.5 million handle led to $21.6 million in profits. The top two operators in New York both produced win rates over 12%.
