Thanksgiving week delivered the largest handle in New York’s sports betting history.
The New York Gaming Commission reported a record handle of $592.9 million during the week ending Dec. 1. The amount wagered topped the previous high of $576.1 million set during the week of Oct. 27.
The latest handle increased by 14.8% compared to Thanksgiving week in 2023 while action was up 21% from the previous week.
Bettors held their own during the high-volume wagering period. New York betting operators produced $41.5 million combined gross revenue from a 7% hold. Sportsbook profits fell nearly 20% week-over-week as two of the three NFL favorites playing on Thanksgiving Day covered the spread.
The Detroit Lions, Dallas Cowboys, and Green Bay Packers, won outright, and bettors feasted Sunday on highly wagered teams like the Pittsburgh Steelers and Buffalo Bills covering.
The customer-friendly outcomes ended New York operators’ run of five consecutive weeks with revenue of more than $50 million. Only three online operators surpassed a hold of 7%.
Big-time handles
FanDuel led all sportsbooks with a handle of $235.5 million during the week ending Dec. 1. It also went over $200 million in wagers for the sixth time in seven weeks.
DraftKings took in $202.7 million and used a 7.9% hold to produce the best revenue at $16.1 million.
FanDuel produced a 6.1% win rate that led to the first weekly revenue under $20 million since the week ending Oct. 20, but the operator is closing in on $850 million in profits year-to-date.
Fanatics continues rolling
Fanatics Sportsbook sustained its position in the second tier of New York sports betting operators with a best-ever handle of $44.1 million, third-highest for the week.
Thanks to a 12% hold, the $5.5 million in revenue is the most Fanatics has produced in a single week during football season and is second-best since the operator launched in the Empire State in February.
This marked the fifth consecutive time Fanatics’ handle has risen week-over-week and the fourth $40 million handle since the first week of October.
Caesars tops BetMGM
Caesars followed with the fourth-highest handle of $43.8 million while BetMGM fell to fifth with $40.3 million wagered. Neither operator were able to get their win rate to 5%.
A BetRivers handle of $12.2 million was once again ahead of ESPN BET, which generated $9.7 million. The online newcomer has only produced one handle of $10 million since launching in the market at the end of September.
