The Empire State completed three consecutive weeks of at least $600 million in online sports betting handle for the first time.
Key Takeaways
- Multiple New York sportsbooks produced double-digit holds in a week of NFL upsets.
- The week ending Nov. 2 generated the third-best gross revenue ever.
- FanDuel set a new profit mark.
The New York Gaming Commission reported $602.2 million was wagered during the week ending Nov. 9, the fourth-highest amount since betting went live in January 2022. The latest handle was down 8.9% from the previous week’s record of $661.6 million.
In a week highlighted by NFL upsets and a busy NBA slate, New York’s eight online sportsbooks generated $70.1 million in gross revenue, a 7.6% week-over-week decrease from the all-time mark of $75.8 million. It was still the third-best week of profits ever.
Operators had an exceptional 11.6% hold, slightly higher than the previous week’s 11.4%. It’s the first time New York sportsbooks have produced back-to-back double-digit win rates since September.
Compared to the same week in 2024, wagering increased 14.2%, while gross revenue spiked 27%.
Record week for FanDuel
FanDuel hauled in $36.06 million during the week ending Nov. 9, its all-time high gross revenue, from a $218.1-million handle, thanks to a massive 15.6% hold. The online operator also cleared $30 million in profits for the second consecutive week for the first time in New York.
In another first for FanDuel, the sportsbook generated at least $200 million in wagers for the seventh consecutive week.
DraftKings surpassed $200 million handle for the third consecutive week, reaching $218.1 million. The online operator produced a more modest 8.6% hold that led to $18.8 million in gross revenue.
Fanatics, BetMGM hold big
Fanatics Sportsbook finished third with a $45.1-million handle, with Caesars being the only other operator to reach $40 million in wagers.
BetMGM generated $36.2 million in its first week below $40 million since late September. The online sportsbook’s 11.6% hold produced $4.2 million in gross revenue, behind Fanatics’ 12.2% win rate but ahead of Caesars’ 7.7% hold.
ESPN BET took in $12.7 million in wagers, beating out BetRivers by nearly $8 million, but the Rush Street Interactive platform made $1.2 million in gross revenue, better than ESPN BET’s $821,315 of profit. Bally Bet generated a $4.2-million handle, its second-highest ever in New York.
