New York Sportsbooks Are Hammered Despite $658M Weekly Handle

The New York State Gaming Commission reported $658.6 million in weekly mobile sports betting handle for the week ending Nov. 1 on Thursday, but bettors reversed course from last week and got the better of the Empire State's eight digital sportsbooks.

The weekly handle trails only the $661.6 million posted for the same week last year, though the 2025 version that ended Nov. 2 corresponded to Week 9 of the NFL season. Action that wrapped up Sunday was for Week 8 of the current season.

Even with competition from prediction markets, commercial sports wagering looks resistant to notable downturns, thanks largely to the NFL. Five of New York's top 10 mobile weekly handles (shown in red) have occurred in the last seven weeks, with the most recent two marking the first time operators surpassed $650 million in back-to-back weeks.

However, that wagering didn't lead to a second straight week of lofty revenue. After a $79.4 million haul that ranked third all-time, operator winnings plunged 66.3% to $26.8 million as the betting public limited the house to a collective 4.1% hold.

A Rough Week for the Big Three

The state's smallest mobile sportsbook, Bally Bet, was the only one to top 6% hold, landing at 8.7% and keeping $325,300 of its $3.8 million handle. DraftKings was at the bottom of the totem pole at 2.4%, claiming only $5.2 million of its $219.2 million worth of accepted wagers. It was DraftKings' second sub-2.5% weekly hold since football season started, with week-over-week winnings down almost 80%.

FanDuel's 5.7% hold was a distant second to Bally Bet, which reaped $13.5 million in revenue from a $237.4 million handle. Its win rate was more than nine percentage points lower than the previous week, contributing to a 63.2% drop in winnings. FanDuel, however, did surpass $8 billion in handle and $850 million in revenue for the calendar year.

Fanatics could not make much hay with its fourth-best weekly handle, landing a 4.2% hold and taking $3.3 million in revenue from $79.2 million in bets. Including a three-week stretch in August 2025 when a whale juiced Fanatics' handles into nine figures, it has been held below 7% in seven of the nine weeks with $70 million-plus in accepted wagers.

Caesars Nears Notable Handle Milestone

BetMGM ($1.8 million) and Caesars ($1.6 million) were the only other operators to reach seven figures in revenue, notching holds of 3.1% and 4.2%, respectively. It was the fourth time in the last eight weeks Caesars has failed to reach even a 5% win rate.

Caesars, though, is on track to join FanDuel and DraftKings next week as the only operators in the state to reach $10 billion handle. Caesars is $23 million shy of the benchmark, but more than 25% of that total came in its first year of betting in 2022, when it overwhelmed competitors at launch by matching up to $3,000 in deposits and offering $300 in bonus bets for signing up.

BetRivers and theScore Bet combined for almost $1 million in rounding out the week's results. BetRivers fell just short of a 5% hold, claiming $612,500 in revenue, while theScore Bet posted a 4.7% win rate, earning $383,400 in winnings.