The Buffalo Bills lost a heartbreaking, controversial AFC divisional-round game to the Denver Broncos in the same week that New York sports betting operators set a new revenue record.
Key Takeaways
- New York’s online operators surpassed the previous weekly revenue high by $15 million.
- Wagering during the NFL’s divisional round was down 8% from last year.
- Every online sportsbook produced a double-digit hold for the week.
The New York State Gaming Commission reported that the eight online sportsbooks hauled in a massive $96 million in gross revenue during the week ending Jan. 18, shattering the previous all-time mark set during the first week of December by over $15 million. Operators produced a 17.7% hold and bounced back with an astounding 157% week-over-week profit growth.
Bettors wagered $545.1 million during the week, the fifth consecutive period with a handle over $500 million.
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Wagering down
The NFL’s four weekend games were expected to generate significant wagering. However, New York’s handle dipped 8% compared to the same playoff round last year and less than 1% from the recent Wild Card Weekend. Still, the in-state Bills likely generated a large chunk of the week’s wagering as 1.5-point underdogs and led to operators’ massive revenue haul.
A contentious interception in overtime cost Buffalo backers a shot at a game-winning field goal and left bettors and experts questioning what a catch is in the NFL. Overall, favorites went 4-0 outright and 3-1 against the spread, with the Seahawks and Patriots also covering, but Empire State bettors still got crushed.
Leaders rack up profits
New York’s two market-share leaders expectedly led the uptick in gross revenue during the period ending Jan. 18.
FanDuel used an absurd 21.7% hold on a $198.5-million handle to set a new single-week record with $43.1 million in profits. The online operator bested its previous high mark of $39.9 million set during the week ending Dec. 7. FanDuel has hauled in at least $30 million in six of the last 12 weeks.
DraftKings surpassed that figure as well, producing $32.3 million on a $182.7-million handle thanks to a 17.7% hold. It’s the highest week of profits since DraftKings made $36.5 million during the middle of May 2024.
More money-makers
FanDuel and DraftKings weren’t the only two New York online sports betting operators with unusually high win rates. Fanatics Sportsbook produced a 13.6% hold on a $45.8-million handle.
Caesars and theScore Bet both went over 13% as well, while BetRivers reached 12.8%. Bally Bet, which accepted the least amount of wagers at $3.9 million, won back 15.6%.
BetMGM, which has been bashed by bettors in recent weeks, produced its first double-digit hold since the first week of November. The sportsbook generated $6.2 million in gross revenue, its highest profit haul in nearly two years.
