A 17.5% week-over-week handle dip in the most lucrative U.S. sports betting market couldn’t stop online operator FanDuel from achieving a massive win rate.
Key Takeaways
- New Yorkers were hit hard by a 12.3% operator win rate in mid-May.
- The amount wagered fell below $500 million for the fourth time in the last six weeks.
- FanDuel dominated bettors and competitors.
The New York Gaming Commission reported on Friday that the state’s eight online sportsbooks generated $52.2 million in gross revenue during the week ending May 17. With fewer NBA and NHL playoff games to wager on, the handle fell from $513.4 million during the previous week to $423.4 million in the latest period.
FanDuel dominated the New York sports betting scene during the week. The online operator led all competitors with an incredible 15.2% hold, profiting $23.5 million on a $154.7-million handle. FanDuel has taken home at least $20 million in gross revenue in each of the last seven weeks.
DraftKings posted a very solid 11.6% win rate, tied for second best for the week, and kept $16.1 million of a $139.2-million handle.
However, online sportsbooks saw profits fall by $10 million from the prior week as handle dropped by more than $30 million.
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Handles tapering off
It’s the fourth handle under $500 million in the last six weeks and a 15.5% decrease from the same week in 2025. However, profits were up 4.6% year over year despite a 24.8% revenue decline from the previous week when operators produced their biggest win since mid-January.
The hold for the week ending May 17 reached an impressive 12.3%, still down from the previous period’s 13.5% but the fourth-highest weekly win rate produced in 2026. Those high holds have produced over $121 million during the first full two weeks of May.
Just 2 more above 10%
Only two other online operators were able to get their hold above 10% for the week. Fanatics generated an 11.6% win rate on a $48.8-million handle, while Bally Bet won back 10.8% of $2.7 million in wagers.
BetMGM came close with a 9.6% hold, with its $32.2-million handle ranking as the fourth highest for the week. BetRivers and theScore Bet fell just shy of 8% on handles that were both under $10 million, while Caesars won back just 7.5% of $28.1 million in wagers.
