Two NY NFL Losses Create Big Week for Sports Betting Sites

The huge haul for online sportsbooks in the Empire State likely had something to do with the lack of success experienced by two of the state’s NFL teams last weekend.

Geoff Zochodne - Senior News Analyst at Covers.com
Geoff Zochodne • Senior News Analyst
Jan 26, 2023 • 18:45 ET • 2 min read
Devonta Smith Philadelphia Eagles NFL
Photo By - USA TODAY Sports

Two huge NFL playoff games helped power the most profitable week yet for online sports betting sites in the Empire State. 

Figures reported Thursday by the New York State Gaming Commission (NYSGC) show the state’s nine online sportsbooks handled $450.7 million in bets during the week ended January 22, up from $423 million the week before.

While the handle generated last week by online sports betting sites in New York was one of the biggest since the start of mobile wagering in the state in January 2022, it's on the revenue side where operators showed out.

A few big Ls

According to the NYSGC’s numbers, online sportsbooks cranked out almost $57.5 million in gross gaming revenue during the week ended January 22. 

That was more than double the $28 million reported for the week before and the highest weekly amount of receipts since the start of legal mobile wagering in the state. As a result, the hold for the mobile books in New York last week was 12.7%, well up from the 6.6% win rate reported for the week prior. 

The huge haul for New York’s online sportsbooks likely had something to do with the lack of success experienced by two of the state’s NFL teams last weekend. The Buffalo Bills and New York Giants lost in their respective playoff matchups on Saturday and Sunday, and given that they (and the favored Bills especially) had a fair amount of hometown support, there were probably more than a few lost bets. 

At the operator level, FanDuel remained the top book by handle during the week ended January 22, taking $182.4 million in bets and generating $26.6 million in gross gaming revenue. DraftKings was still in second, with a handle of $152.4 million and $20.2 million in revenue. Caesars Sportsbook, as per usual, was third, with $57.6 million in weekly handle and $6.1 million in revenue.

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Geoff Zochodne, Covers Sports Betting Journalist
Senior News Analyst

Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.

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