The New York State Gaming Commission reported on Friday that mobile sportsbooks generated $2.25 billion in wagers in the same month the Knicks won the NBA championship.
Key Takeaways
- The June handle eclipsed $500 million for a fourth consecutive month.
- Operators lost $48.5 million in a single week.
- FanDuel and Fanatics took significant week-over-week revenue dips.
The June handle increased 36.6% year over year and was the highest monthly total outside of football season and March Madness. Because of the Knicks’ popularity, though, revenue did not follow.
New York online sports betting operators suffered a $48.5-million loss the week the NBA team clinched its first title since 1973, finishing June with $116.8 million in gross revenue. Profits were down an unexpected 43.2% from June 2025 when the less popular Oklahoma City Thunder beat the Indiana Pacers for the NBA title.
Operator revenue was down 18% year over year in May when the Knicks went undefeated in the NBA playoffs, leading to the lowest two-month profit total since July-August 2024.
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Win-rate troubles
June was the least profitable month for the eight online operators since August 2023. The 5.2% hold in June fell significantly from the record 12.5% win rate produced during the same month in 2025.
It also helped New York bettors that the heavily bet U.S. men’s national team won two of its three group stage games in the World Cup. The USMNT took more than 80% of the handle in each of its matches at most sportsbooks in June.
Operators paid out 51% of their New York revenue to the state in taxes, filling coffers with $59.6 million.
FanDuel, Fanatics fall off
| Online Operator | June Handle | Revenue |
|---|---|---|
| FanDuel | $804.1 million | $42.7 million |
| DraftKings | $785.4 million | $41.6 million |
| Fanatics Sportsbook | $263.5 million | $9.2 million |
| BetMGM | $161.8 million | $10.8 million |
| Caesars | $146.1 million | $5.9 million |
Six of the eight online operators generated month-over-month handle increases, but only Bally Bet reported a revenue hike. FanDuel and Fanatics saw their gross revenues cut in half between May and June.
FanDuel still led all operators with an $804.1-million handle, but a 5.3% hold led to $42.7 million in gross revenue, just its third month in the last year with profits under $70 million. DraftKings wasn’t far behind in gross revenue, reaching $41.6 million on a $785.4-million handle.
Fanatics won back just 3.5% on a $263.5-million handle that was up from May’s $249 million. BetMGM weathered the Knicks' championship run and the USMNT's success better than most operators, posting a 6.7% hold on nearly $162 million wagered.
Caesars generated a 4% hold on a $146.1-million handle. BetRivers got above 6.4% on $44.5 million in wagers, while theScore Bet’s handle dipped month over month by more than $7 million, but the PENN Entertainment brand did tie Bally Bet with a state-best 7.4% hold.
World Cup dominates early July
With the World Cup dominating the betting scene in early July, New Yorkers generated the fourth consecutive $500-million handle. The week ending July 5 produced $548.8 million in bets, a 7% week-over-week increase. The same week in 2025 generated $354.4 million in wagers.
Behind the U.S.’ win over Bosnia and Herzegovina, bettors kept the weekly hold to 6.7%, while gross revenue of $36.5 million was down 41% from the previous week.
FanDuel’s handle spiked nearly $10 million from the previous week, reaching $187.7 million, but the $13.6 million in gross revenue was down by more than $12 million from the previous week. DraftKings led the state with a $198.3-million handle while posting a 6.9% hold.
