The New York Gaming Commission reported a record handle of $592.9 million during the week ending Dec. 1.
Betting companies had plenty to be thankful for as they saw the largest handle since sports betting was legalized in the Empire State.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.
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 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%. 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.
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. 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.
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