Major operators feel the impact of a bettor-friendly week

New York’s online sportsbooks posted one of their weakest profit weeks of the season in the days leading up to Christmas, as bettors collectively outperformed the market. State data shows sportsbooks had a 6% hold of $588.6-million handle during the period, marking a notable decline from recent weeks of stronger operator results.

BetMGM posts rare weekly loss despite record handle

BetMGM posted the most challenging results among New York’s online sportsbooks during the period, despite setting a new personal high for wagering activity. More than $65 million was bet through the platform, yet the operator finished the week with a loss of roughly $900,000.

It marked BetMGM’s first losing week since October 2024 and ranked among the largest weekly deficits the sportsbook has recorded since entering the New York market in 2022.

FanDuel and DraftKings see momentum slow

FanDuel and DraftKings also saw their momentum slow following weeks of strong NFL-driven performance. FanDuel handled more than $208 million but recorded a hold below seven percent, resulting in $14.2 million in revenue, its lowest weekly total in over two months.

DraftKings posted a similar outcome, generating about $14 million on a $201.2 million handle. While neither operator posted a loss, both experienced one of their least profitable weeks of the season, reflecting how widespread bettor success affected even the market’s top sportsbooks.

Mixed results across remaining New York sportsbooks

A handful of sportsbooks stood out with stronger results during the period, led by Fanatics, which converted a solid portion of its wagering volume into revenue. The operator posted one of the highest hold rates in the state, turning more than $50 million in bets into nearly $6 million in winnings. Bally Bet also delivered an efficient performance, finishing the week with a double-digit hold despite handling a relatively modest amount of action.

Other operators landed closer to the middle of the pack. Caesars retained just over five percent of its handle, while both theScore Bet and BetRivers surpassed $10 million in wagers but saw more limited returns due to lower win rates.

What the results signal for the sports betting industry

The uneven performance among New York sportsbooks highlights how volatile short-term results can be, even in one of the most mature and competitive betting markets in the U.S.

A single bettor-friendly week was enough to significantly reduce profits for major operators, underscoring how heavily sportsbook revenue depends on game outcomes, pricing, and bettor behavior. This is especially true during peak periods like the NFL season.

At the same time, the results reinforce the importance of scale and risk management as competition intensifies. While high handle remains a positive indicator of consumer demand, profitability can fluctuate quickly, pushing operators to refine odds, limit exposure, and adjust promotional strategies.

For the broader industry, weeks like this serve as a reminder that sustained growth relies not just on volume, but on disciplined pricing and long-term customer management.