New York’s eight online sports betting operators thrived in the second week of the NFL season, but revenue fell significantly short of the same week last year.
Key Takeaways
- Empire State online sportsbooks hauled in 101% more revenue from the NFL’s Week 2 than in Week 1
- Despite outright favorite wins and a run on overs, bettors couldn’t hold off a double-digit win rate for operators
- The handle has surpassed $500 million every week since college football began
The New York Gaming Commission reported on Thursday that mobile sportsbooks hauled in $56.9 million in gross revenue from the $533.8 million bettors wagered during the week ending Sept. 14.
Profits were up 101% from the $28.3 million from the previous week, but gross revenue from the week ending Sept. 14 was down 18% from Week 2 of the 2024 NFL season. Still, the latest revenue haul is the second-highest since early June and was about $10 million less than the $66.6 million made during the first weekend of college football.
New York sports betting operators also turned a 10.6% hold for the week during Week 2, despite favorites still winning outright at a high clip and overs ruling the point-total markets.
High handles
The most lucrative sports betting state in the U.S. is also displaying real growth in the market. The last three weeks, which began with the first week of college football, have resulted in handles of over $500 million in each period.
Last year, there wasn’t a single week with a handle that high during the same stretch. It took until the final week of September before operators generated a $500 million handle. The amount wagered during Sept. 14 was up 11.6% compared to the same week in 2024.
New Yorkers have wagered over $1.6 billion this football season. That matches all of June and is more than July, setting up a massive first month of the highest betting volume of the year.
FanDuel turns impressive hold
DraftKings outduelled FanDuel for the week’s highest handle for the fourth consecutive betting period, and DraftKings generated over $200 million in wagers in back-to-back weeks.
However, FanDuel was more profitable for the second consecutive week, hauling in $24.1 million on a $175 million handle. The online operator produced an impressive 13.8% hold, while DraftKings fell just shy of a 10% win rate, despite still raking in $20.1 million in weekly revenue.
New York’s top two operators combined to produce 78% of the entire market’s revenue for the week ending Sept. 14.
Battle in the middle
Fanatics Sportsbook wasn’t able to capitalize on a 35% week-over-week handle increase. Its $5.5 million in gross revenue from a $65.9 million handle was about $400,000 less than the NFL’s Week 1.
Caesars generated $33.4 million to finish fourth for the week, about $1.4 million more than BetMGM. Both online operators took home over $2.5 million for the week. ESPN BET generated a $10.5 million handle, but a 4.8% hold produced the lowest week of profits since late July.
BetRivers had a better week, producing $1 million in revenue on a $10.4 million handle, while Bally Bet turned an 8.1% win rate on a $2.9 million handle.
