World Cup Knockout Rounds Lift Sportsbook Revenues in New Jersey, Michigan, and Pennsylvania
TL;DR — World Cup matches drove July revenue higher in key states. New Jersey revenue rose 30% YoY to $97M with 11.9% hold on $816.9M handle. Michigan AGR climbed 28.8% MoM to $30.77M and Pennsylvania revenue hit $64.8M at 12.7% hold. Win rates rose industrywide.
SCCG Take — Higher holds from event calendars offset handle dips in mature markets, signaling operators should model tournament-driven volatility into forecasts rather than baseline projections.
The World Cup knockout rounds delivered a revenue bump to sportsbooks in July. New Jersey operators posted the largest year-over-year gain, with the $97 million in revenue representing a nearly 30% increase against July 2025 even as handle declined.
The state hosted eight matches overall, including Norway’s 2-1 upset of Brazil on July 5 and the Argentina-Spain final on July 19. Sportsbooks recorded $816.9 million in handle, down from $917 million in June, but achieved an 11.9% hold, the highest of the year and nearly double the June rate. Operators paid $20 million in taxes.
FanDuel generated $32.8 million in revenue. DraftKings followed with $25.7 million, Fanatics Betting & Gaming with $10.6 million, BetMGM with $8.8 million, and Bet365 with $7.7 million. A broader theme across states was higher win rates for the month.
State Handle and Revenue Details
Michigan handle totaled $355.2 million, down 3% from June. Gross revenue reached $43.36 million and adjusted gross revenue hit $30.77 million, up 28.8% month-over-month. FanDuel led with $107 million in wagers, $14.9 million gross revenue, and $11.8 million adjusted gross revenue. DraftKings posted $99 million in handle and $8.1 million in adjusted gross revenue. BetMGM and Fanatics Betting & Gaming each produced $3.4 million in adjusted gross revenue.
Pennsylvania reported $509.5 million in handle and $64.8 million in revenue at a 12.7% hold. FanDuel led online revenue with $25.4 million on $165.7 million handle and a win rate above 15%. DraftKings generated $19.3 million revenue on $163.8 million handle at an 11.8% hold. Operators paid $18.7 million in taxes and fees.
Event Impact on Hold Rates
Major tournaments can produce elevated hold percentages that offset handle softness. Operators in these jurisdictions will track whether similar calendar events sustain win-rate gains or prove one-off.
Reporting: InGame
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Tournament volatility drove win rates to double-digit levels, proving event calendars matter more than handle volume in mature markets.
We've tracked 545 partners through every regulatory cycle, and the data is clear: operators banking on steady hold percentages are leaving money on the table. The World Cup knockout phase pushed New Jersey's hold to 11.9%—nearly double June—even as handle dropped. Smart operators model tournament-driven spikes into revenue forecasts, not just baseline projections.
- New Jersey revenue up 30% YoY to $97M despite lower handle; 11.9% hold highest of the year
- Michigan AGR climbed 28.8% MoM to $30.77M; Pennsylvania hit $64.8M at 12.7% hold
- FanDuel and DraftKings captured majority share across all three states during tournament window
SCCG angle: SCCG works with trading tech providers and data analytics partners who help operators identify and capitalize on tournament-driven hold spikes. We connect sportsbooks to the tools that model event volatility into revenue planning, not after the fact but before the calendar locks.
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