New York Online Sportsbooks Saw $68.8 Million in Gross Revenue in Week Ending Oct. 12
The New York State Gaming Commission-reported week ending October 12 was one of the most lucrative for the Empire State’s mobile sportsbook operators. Gross revenue across all online sportsbooks hit $68.8 million, representing a 127.8% increase week-over-week.
While the handle (amount wagered) declined slightly to $554.1 million, the week marked the eighth consecutive week with wagering above $500 million in New York. Analytics showed that favorite picks and single-leg bets dominated the week’s mix, with the hold (book profit margin) climbing to around 12.4%. FanDuel once again led the market, posting revenue of $31.6 million from a $207.7 million handle, which translated into a remarkable 15.2% hold. DraftKings followed with $23.6 million in revenue from under $200 million in handle, delivering a solid 12% hold.
Why This Week Stood Out
Several factors contributed to the surge in profitability. A heavy slate of NFL betting games, paired with strong college-football wagering and a declining MLB contribution, drove overall betting activity. More importantly, the revenue jump highlights that sportsbooks captured favorable margins during the week. Effective risk management, sharp odds pricing, and a bettor mix skewed toward favorites and less volatile lines all played a role in boosting operator profits. Even with slightly lower total handle, operators generated more profit per dollar wagered thanks to the higher hold.
Market Implications
This week’s results reinforce New York’s reputation as one of the most critical sports-betting markets in the United States. The combination of strong handle and outsized profits demonstrates that high-volume weeks can be just as favorable for sportsbooks as they are for bettors, depending on the balance of outcomes. FanDuel’s dominant performance, particularly its ability to secure a double-digit hold rate, illustrates the competitive edge that top operators maintain in this market. DraftKings Sportsbook also posted strong numbers, though FanDuel’s lead in both revenue and hold highlights the pressure competitors face as promotional spend and acquisition costs remain high.
What to Watch Next
The key question moving forward is whether sportsbooks can sustain profitable weeks at these levels. Periods of high hold, such as the week ending October 12, contrast sharply with other weeks earlier this month when New York books reported far slimmer margins — for example, $30.2 million in revenue from a $591.7 million handle with just a 5.1% hold. That volatility underscores how much operator profit depends on bettor outcomes in a given week. As additional states expand their betting frameworks, comparative performance across jurisdictions will provide further insight into whether New York’s balance of handle and hold represents a sustainable trend or a high-water mark.