New York Sportsbooks Post Their Best Week Since the World Cup
New York's online sportsbooks posted their strongest week of money kept from bettors so far this NFL season, according to data from the New York State Gaming Commission reported Friday and covered by Covers.com. For the week ending October 18, the state's mobile operators combined to keep $63.3 million in gross revenue from a $615.1 million handle — a statewide win rate of 10.3%, the highest since the week ending August 16.
Why the number stands out
It's the first time New York's online books have cleared $60 million in weekly gross revenue since the World Cup ended in mid-July, breaking a stretch of four straight weeks under $50 million. Revenue rose 21.4% week over week, while total handle — the amount actually wagered — climbed a more modest 5.8% to $615.1 million, meaning most of the jump came from the bettors' money simply not coming back as winnings rather than from a surge in new wagering. The $615.1 million handle was the fifth-largest recorded in New York since legal online sports betting launched in the state, and marked the third time this fall that operators have taken in more than $600 million in a single week.
How individual operators did
FanDuel had the strongest week among New York's eight licensed online operators, keeping $27.3 million on a $226.5 million handle for a 12.1% win rate — its first time in double digits since Week 1 of the college football season. DraftKings posted a 10% hold on its third consecutive week with a handle above $200 million. Behind the two market leaders, Fanatics kept 8.5% of $68.4 million in wagers, BetMGM won 7.7% of a season-high $53.2 million handle, and Caesars kept 8.2% of $37.5 million. Among the smaller operators, theScore Bet reached a state-high 15% hold on $7.9 million in bets, Bally Bet hit 14% on $2.5 million, and BetRivers kept just 5.7% of a handle topping $10 million.
What it means for bettors
A statewide win rate is an aggregate across every bettor and every bet type in New York that week — it doesn't mean any individual bettor lost more than usual, and a single week's hold can swing significantly based on which favorites covered and which upsets happened to hit. Win rates well above the typical mid-single-digit range tend to follow weeks where favorites and expected outcomes largely held, since sportsbooks generally collect more when the "obvious" side wins. For bettors, it's a reminder that the book's overall take in any given week says more about how the games actually played out than about anything a bettor did differently.