Fanatics Continues Heightened NY Online Sports Betting Run

• Fanatics Sportsbook reported $565.8 million in total handle for August
• The sportsbook notched the second most August handle out of any licensed operator in the state
• Prior to this past month, Fanatics Sportsbook’s monthly New York high was $194.1 million

Fanatics Sportsbook wrapped up a month of online sports betting to remember in the Empire State.

Fanatics Sportsbook reported $565,830,550 in total August New York online sports betting handle, by far its most successful month in the state and a nearly $430 million increase from the sportsbook’s July total.

It was the second highest handle total of any licensed New York sportsbook operator for the month.

Fanatics Sportsbook’s New York Success

It’s unknown what accounted for Fanatics’ success in New York this past month. While Fanatics Sportsbook has experienced steady growth in the Empire State, it has never had a month as successful as it did in August.

The likeliest reason? A VIP bettor, or several VIP bettors (commonly known as “whales” in the industry), likely turned their attention to Fanatics Sportsbook for the month. Sportsbooks in any state typically do not see increases of more than 310% in month-to-month handle, no matter how well they market their services, without the help of a VIP bettor.

While Fanatics Sportsbook handle increased by 310% from July’s total of $137.7 million, its gross gaming revenue totals for August did not follow suit. Fanatics Sportsbook reported $16,072,483 in gross gaming revenue for the month, about a $2.3 million increase from July’s total, for just a 2.8% hold.

In total, New York eclipsed $2 billion in total handle for August. Fanatics Sportsbook claimed a 27.7% market share for the month. DraftKings reported $579,576,336, the highest handle total for the month, and $62,296,253 in gross gaming revenue.

FanDuel dropped to third in total handle with just $561,942,651, but topped all New York sports betting operators with $66,893,367 in gross gaming revenue.

August Totals Paving Way for Lucrative Fall Months

The New York State Gaming Commission releases handle and revenue reports for its nine live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, ESPN BET, and BetRivers, at the conclusion of each week.

The commission reported $558,108,838 in total New York online sports betting handle and $66,640,027 in gross gaming revenue for the week ending Aug. 31. For the entire month, New York experienced $2,044,463,754 in handle and $178,210,439 in gross gaming revenue.

At the state’s 51% tax rate, New York brought in $90,887,323 in tax revenues for the month.

New York is moving into the fall months, typically the most lucrative sports betting period of the year due to football.

Here are the handle breakdowns for the nine sportsbooks for the week:

• DraftKings NY: $166,340,671
• FanDuel NY: $152,512,536
• Fanatics Sportsbook: $145,833,764
• BetMGM NY: $38,766,127
• Caesars Sportsbook: $31,008,655
• BetRivers: $10,468,503
• ESPN BET: $9,827,255
• Bally Bet: $3,351,327
• Resorts World: $0

Here are the gross gaming revenue breakdowns for the week:

• FanDuel NY: $21,652,540
• DraftKings NY: $19,963,958
• Fanatics Sportsbook: $14,800,685
• BetMGM NY: $4,349,781
• Caesars Sportsbook: $3,528,136
• BetRivers: $1,211,705
• ESPN BET: $880,056
• Bally Bet: $253,166
• Resorts World: $0