New York State sports betting action for Fanatics spikes in August
Online sports betting operators in New York State won US$178.2 million in August, enjoying a 42.6% spike in their grosses from August 2024. Handle rose 42.4% to slightly more than US$2 billion.
Year over year, hold was flat at 8.7%. The tightest hold, 11.9%, was posted by FanDuel, followed by DraftKings’ 10.7%. The loosest of the online books was ESPN Bet at 8.9%. BetMGM was close behind DraftKings at 10.6%, while Caesars Sportsbook held 9.4%.
Fanatics’ share of handle accelerated dramatically in August, achieving US$5658 million. It edged past FanDuel’s US$561.9 million. DraftKings was the handle leader with US$579.1 million. BetMGM’s handle was US$130.3 million, BallyBet’s was US$11.7 million and Caesars’ was US$113.5 million. New York reported US$40.8 million in handle for ESPN Bet, an identical amount for BetRivers and nothing for Resorts World Bet, which has ceased operations.
FanDuel’s hold percentage translated into revenue of US$66.9 million. DraftKings was nearby with US$66.3 million, while the explosion in Fanatics’ handle meant US$16 million in win, its third-lowest total of the year.
BallyBet recorded US$839,409 in revenue, compared to US$13.8 million for BetMGM and US$10.7 million for Caesars Sportsbook. ESPN Bet won US$3.6 million and BetRivers saw US$4 million, according to data compiled by the New York State Gaming Commission.
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David McKee is an award-winning journalist who has three decades of experience covering the gaming industry.
