The New York Gaming Commission reported Thursday that bettors wagered $338.7 million during the week ending Aug. 3, the seventh time in the last eight weeks mobile sports betting handle reached $300 million.
Key takeaways
- MLB and the NFL’s first preseason game helped New York’s mobile sportsbooks increase week-over-week handle by 3.3% .
- Five of the eight online operators enjoyed win rates over 12%.
- Fanatics Sportsbook took its second weekly loss since its Feb. 2024 launch.
With MLB and the first NFL preseason game between the L.A. Chargers and Detroit Lions driving action, the eight online sportsbooks generated 3.3% more wagers than the previous week, and gross revenue reached $36 million, a 3.5% week-over-week spike. New York sports betting operators produced at least $30 million in profit each of the last 15 periods, including $34.7 million in the week ending July 27.
Sportsbooks also enjoyed a 10.6% hold for the second consecutive week, which created a 59.3% revenue increase compared to the same week in 2024. Five online operators produced win rates over 12%.
Big holds
FanDuel edged out DraftKings by about $1.5 million to generate a state-leading $111.7 million handle during the week ending Aug. 3. FanDuel’s 14.9% hold led to $16.9 million in income, the most the online operator produced since the week ending June 22.
DraftKings hauled in $14.3 million in profit from a $110.2 million hold during the week ending Aug. 3, thanks to a 13% hold. It was also the sportsbook’s highest profit in the last six weeks, and DK generated at least $100 million handles for 53 consecutive weeks.
The Empire State’s two biggest operators had 65.5% of the amount bet for the week and a whopping 86.7% of the entire gross revenue.
Massive loss
Some of that massive profit percentage is because Fanatics Sportsbook ended the week in the red for just the second time since launching in New York in February 2024. The online operator’s $3.8 million loss was the third-largest in Empire State sports betting history. Bettors destroyed Fanatics on the same week it generated a $46.7 million handle, its highest since May.
BetMGM claimed $3.7 million in income from a $26.9 million handle. Caesars finished fifth with wagers totaling $22.1 million and hauled in $3 million in profit for the week. ESPN BET generated a handle over $10 million for the second consecutive week for the first time in two months. A 12.3% hold led to $1.2 million in profit.
BetRivers only produced a 7.8% hold on an $8.5 million handle, while Bally Bet reported a similar hold on $2.4 million in wagers.
