Fanatics Claims Top Spot in New York Handle with a Single $119M Wager
Fanatics Sportsbook surged to the top of the New-York sports betting market for the week ending August 17, but the achievement came with a significant asterisk. A single, massive wager of $119 million accounted for the vast majority of the company’s total handle, catapulting it past industry leaders DraftKings and FanDuel in a rare and dramatic market shake-up.
A Record-Breaking Week Driven by One Bet
For the week, Fanatics reported a total handle of $147.3 million, which represented 32% of the entire New York market. This figure was nearly three times the company’s previous weekly record in the state. Without the $119 million wager from a single customer, Fanatics’ handle would have been approximately $28.3 million, placing it a distant fourth in the market.
By comparison, the other major operators in New York posted the following results for the week:
- DraftKings: $122.4 million in handle.
- FanDuel: $117.3 million in handle.
The enormous wager highlights the volatility of weekly market share figures and demonstrates how a single high-roller can temporarily distort the competitive landscape.
Market-Wide Impact
The Fanatics wager was the primary driver behind a significant spike in New York’s overall betting activity. The state’s eight online operators collectively took in $458.2 million in wagers, a 44.7% increase from the previous week. It was the first time the state’s handle had surpassed the $400 million mark since the last week of May.
However, the picture was less rosy on the revenue side. The combined gross gaming revenue (GGR) for all operators was $33.3 million, a slight decrease from the previous week and the lowest total in about a month.
The overall hold percentage for the market was a modest 7.3%. This relatively low win rate for the sportsbooks was heavily influenced by Fanatics’ performance, as the single large wager likely had a significant impact on its individual hold percentage for the week.
Fanatics’ Broader Strategy
While the one-off wager was the headline news, it comes as Fanatics is making a broader push to solidify its position in the competitive U.S. market. The company recently launched Fanatics ONE, a comprehensive, cross-platform loyalty program designed to integrate all its business verticals, from merchandise to collectibles to betting.
The program is built around FanCash, a loyalty currency that can now be earned and redeemed across the entire Fanatics ecosystem. For example, sportsbook users can earn up to 10% back in FanCash on every bet, win or lose, and then use that currency to purchase merchandise or other items.
In conjunction with its loyalty program, Fanatics has also launched a new marketing campaign featuring LSU gymnast and social media star Livvy Dunne. The campaign, which uses the tagline “Winning Hits Different Here,” is aimed at highlighting the unique value proposition of the Fanatics Sportsbook, including its FanCash rewards and “Fair Play™” injury protection feature.
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