Whale bettor propels Fanatics past FanDuel in august handle

• Fanatics Sportsbook achieves record monthly handle of £565.8 million, doubling its previous best performance
• High-stakes bettor activity propels New York’s August mobile betting to historic £2.04 billion total
• State generates £90.9 million in tax revenue as mobile wagering surges 42.4% year-over-year
• Fanatics captures 27.7% market share to finish second, ahead of industry leader FanDuel for handle
• Low hold percentage of 2.8% suggests successful betting performance for major customer

A potential high-stakes bettor appears to have driven Fanatics Sportsbook to unprecedented monthly performance, helping push New York’s mobile sports betting handle above £2 billion for August 2025 according to figures released by the New York State Gaming Commission.

Fanatics posted £565.8 million in handle for August, more than double its previous monthly record of £207.5 million established in March.

The operator accepted £506 million worth of wagers from 11-31 August, with the surge attributed to what gambling industry observers describe as “whale” activity – high-volume betting from individual customers.

Record-breaking month

New York’s £2.04 billion in online wagers represented a 42.4% increase compared to August 2024, marking the 11th occasion monthly mobile handle has surpassed £2 billion in the state. The figure ranks as the highest August total on record and represents the fifth month in 2025 to reach the £2 billion threshold.

The New York Gaming Commission confirmed that approximately £1.6 billion of the total came in the second half of August, with a single bettor wagering over £119 million during the week ending 17 August. Most of that activity appeared to be concentrated at Fanatics, which nearly tripled its previous weekly handle record with £147.3 million.

Industry publication Covers reported that the commission confirmed the exceptional wagering activity, stating: “The commission informed Covers on Aug. 22 that a single bettor wagered over £119 million during the week ending Aug. 17”.

Fanatics achieves market share milestone

Despite the massive handle, Fanatics finished with a 2.8% hold percentage, generating £16.1 million in revenue – an 89.5% increase from the previous year. The low hold suggests the high-volume bettor or bettors were largely successful in their wagering activities.

Fanatics captured a 27.7% market share for August, edging FanDuel for second place in handle volume, compared to just 6.5% market share in August 2024. This represents the operator’s highest market share achievement since replacing PointsBet as the official licensee in New York.

This supposed bettor, who has impacted handle totals in both New York and New Jersey in recent years, helped put Fanatics’ monthly action on par with titans FanDuel and DraftKings in the Empire State”.

Industry leaders maintain profitability

While Fanatics struggled with profitability due to successful customer betting, established operators maintained strong performance. FanDuel led revenue generation with £66.9 million from £561.9 million in handle, achieving an 11.9% hold despite finishing third in total wagering volume.

DraftKings generated the highest handle at £579.6 million, producing £62.3 million in revenue with a 10.8% hold. The operator extended its streak of double-digit holds to four consecutive months whilst pushing its total New York handle above £25 billion.

BetMGM completed the top tier with £13.8 million in revenue from £130.4 million handle, maintaining a 10.6% hold. Caesars rounded out the top five operators with £10.7 million in winnings from £113.5 million handle.

College football boosts final week performance

The final week of August generated significant profitability as operators benefited from college football season upsets. Gross revenue for the week ending 31 August increased 94.7% week-over-week to £66.6 million, achieving an 11.9% hold nearly double the previous week.

Covers noted that “Operators feasted on bettors from opening weekend upsets in college football, with Texas losing at Ohio State, Clemson falling to LSU, and Notre Dame going down at Miami in three top-10 matchups”.

Fanatics recovered significantly during the final week, generating £14.8 million in gross revenue – nearly its entire monthly profit – from a 10.2% win rate. This performance helped salvage the operator’s monthly position after weeks of low profitability.

Regulatory and tax implications

The surge in betting activity generated £90.9 million in state tax revenue, pushing New York’s Fiscal Year 2026 total past £500 million within the first four months. The state’s 51% tax rate on gross gaming revenue makes it one of the highest-taxed sports betting markets in the United States.

Revenue increased 42.6% year-over-year to £178.2 million, with the collective 8.7% hold among eight operators remaining relatively stable compared to August 2024. The performance represents the most lucrative August on record for New York’s mobile sports betting industry.