Another week of NFL playoffs led to another week of Empire State sports betting operators surpassing $60 million in gross revenue.
The New York Gaming Commission reported that the nine online sportsbooks combined to generate $68.3 million in profits, the third-highest weekly total ever, from a $593.7 million handle during the week ending Jan. 19.
It’s the first time since wagering went live in January 2022 that the operators had back-to-back weeks with $60 million in revenue. The first two weeks of NFL playoff games have made sportsbooks $130.3 million, $6 million more than New York operators won the entire month of August.
Behind an 11.5% hold, it’s also the second consecutive week with a double-digit win rate.
The latest report includes the Los Angeles Rams’ wild-card round win over the Minnesota Vikings, but not the College Football National Championship Game that Ohio State won over Notre Dame.
Action rises
All four underdogs covered the closing spread, but depending on exactly what line bettors got in three of the contests, there were likely plenty of pushes and close wins on both sides.
Two underdogs won outright during the NFL Divisional Round. The in-state Buffalo Bills were a slight underdog in a win over the Baltimore Ravens, while the Washington Commanders shocked the top-seeded Detroit Lions.
Action rose 21% from the Divisional Round last year and 5.8% from the previous week. Weekly revenue spiked 10.1% week-over-week and 43.7% year-over-year. The week ending Jan. 19 marked the fifth consecutive week with a handle over $500 million.
Big boys eat
New York sports betting's top two online sportsbooks combined to produce 76% of the Empire State’s total weekly revenue.
Fueled by a 13% hold, FanDuel generated $30 million in profits for the second time in four weeks and nearly reached that mark during the wild-card round. The mobile operator also went over $200 million in weekly handle for the fifth consecutive week, accepting $231.2 million during the week ending Jan. 19.
DraftKings generated $193.6 million in wagers and used an 11.3% hold to haul in $21.9 million in revenue, surpassing $20 million for the second consecutive week for the first time in New York.
Wild rides
Fanatics Sportsbook’s three-week run in third place ended as BetMGM generated $50.4 million in wagers during the week ending Jan. 19. Fanatics finished fourth at $46.2 million while Caesars wasn’t far behind with a handle of $41.1 million. Fanatics enjoyed a 12.3% hold, making it the only member of that trio to top $5 million in revenue.
ESPN BET’s continued its wild ride in the U.S.’s most lucrative sports betting market. During the week ending Jan. 5, the online operator, which launched in late September, reported less than $9,000 in revenue. The next week, ESPN BET turned a 10.4% hold into more than $1 million in profits.
That was followed by a 4.3% hold in the latest reported week, leading to just $686,676 in revenue on a $15.9 million handle, ESPN BET’s highest in a month and ahead of BetRivers’ $11.7 million in wagers.
