The Empire State’s online sports betting operators had an 8.5% week-over-week handle increase during the same period the New York Knicks continued their playoff run.
Key takeaways
- The Knicks’ success against the Boston Celtics could be a reason for a week-over-week income drop.
- Weekly hold fell below double digits for the first time in three weeks.
- DraftKings’ handle and revenue rose from the previous week.
The New York Gaming Commission reported Friday that bettors wagered $521.1 million during the week ending May 11. In that stretch, the Knicks wrapped up their six-game first-round series with the Detroit Pistons before winning two of their first three games against the Celtics.
New York online sports betting weekly handle surpassed $500 million for the second time in three weeks, matching the end of April, and was up 7.6% from the same week in 2024.
Another week of operator-friendly NBA outcomes led to $44.7 million in gross revenue. However, the Knicks, currently up 3-2 in the best-of-seven second-round series against the Celtics, were part of a well-performing underdog group and could be why gross profit fell 13.7% from the previous week.
Income stayed above $40 million for the fifth time in the last six weeks, but the 8.6% hold fell below double digits for the first time in three weeks.
Strong week for DraftKings
FanDuel’s weekly handle rose by nearly $14 million. The 7.5% increase from the previous seven days generated $194 million, the most wagered at any New York online sportsbook for the week ending May 11. However, the book’s gross revenue fell $6.7 million from the previous week to $19.5 million, ending a two-week run of profits above $24 million.
DraftKings enjoyed increases across the board for the week. The amount wagered jumped $9 million to $172.9 million. Its $16.2 million in revenue was up 6%. DK hauled in more than $15 million for the fifth time in six weeks.
Handles on the rise
Fanatics Sportsbook generated a $50.9 million handle during the week ending May 11, but BetMGM equaled Fanatics with $1.9 million in income despite taking $10 million less in wagers. Caesars was fourth with a $36.3 million handle and produced the best hold of the trio (8.2%) to haul in $3 million in revenue.
BetRivers took New York's fifth handle spot with $10.7 million in bets, while profits nearly doubled from the previous week. ESPN BET’s handle fell off by $3.6 million to $9.9 million. Week-over-week income, however, increased 87% to $895,146. Both Bally Bet and Resorts World Bet generated at least $2.4 million in bets for the week, and handle and revenue increases from the previous week.
