Despite a full week of NFL preseason games, New York’s sports betting handle fell by more than $20 million from the previous week.
Key Takeaways
- New York sportsbooks endured a similar handle drop during the same week last year.
- Profits remain incredibly consistent behind a fifth consecutive double-digit hold.
- FanDuel and Fanatics enjoyed strong weeks.
The New York Gaming Commission reported on Thursday that eight online sportsbooks generated $316.6 million in wagers during the week ending Aug. 10, a 6.6% week-over-week decrease. Operators experienced a similar 6.8% drop during the same week in 2024.
Still, it was the third consecutive summer week with a handle of over $300 million, and sportsbooks continued dominating bettors in a trend that took off in June. The 11% win rate marked the fifth consecutive week with a hold over 10%.
Sportsbooks hauled in $35 million during the week ending Aug. 10, about $1.2 million less than the previous week, but it was the 16th consecutive period of over $30 million in profits.
FanDuel stays hot
FanDuel led all New York sportsbooks with a handle of $113.6 million during the week ending Aug. 10. The online sportsbook saw a nearly $2 million bump in week-over-week action and produced its best handle in five periods.
A 12% hold led to $13.6 million in gross revenue for FanDuel, down by $3 million from the previous week. Still, FanDuel has produced at least $13 million in profits for 15 of the last 16 weeks.
DraftKings reached $105.3 million in wagers, a 4.5% week-over-week handle decrease. The online operator fell just shy of an 11% hold and generated $11.4 million in gross revenue.
Back in black
A week after taking a $3.8 million loss, Fanatics Sportsbook bounced back with $3.74 million in the black during the week ending Aug. 10. It’s the operator’s highest gross revenue in the last six weeks despite a handle that fell 30% to $32.7 million.
BetMGM finished fourth with a handle of $24.4 million and also produced a double-digit hold. Caesars won back 8.7% of its $21.5 million handle, while ESPN BET and BetRivers failed to generate $1 million in revenue from handles exceeding $8 million each. Bally Bet enjoyed a healthy 11% hold on a $2.3 million handle.
