Major Sportsbook Loses $1.3 Million In NFL Bets In A Week After New York Sports Bettors Get Scorching Hot

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Vegas doesn't always win, sometimes the public gets the best of the sportsbook, and New Yorkers certainly did a couple of weeks ago.

Fanatics Sportsbook, which bought out PointsBet in 2022, lost a whopping $1.3 million on NFL bets in a single week after New York sports bettors got absolutely scorching hot with their wagers. The big-time loss, which Fanatics reported itself, is the worst result in a single week among the nine legal online sportsbooks in the Empire State.

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The early trend in the NFL season was favorable to underdogs against the spread, but for Week 6, bettors jumped on favorites across the board, and with favorites going 10-3 against the spread, it made for a brutal week for Fanatics.

The sportsbook also took a loss this past week but did not reveal that number.

"New York customers had another winning week in NFL Betting at the Fanatics Sportsbook," a spokesperson told the New York Post. "Even though the Jets and Giants did not get W’s this weekend, many of the fan favorites won this weekend, including the Chiefs, Lions, and Steelers — all as underdogs. (Twelve) teams scored 28 or more points too, helping NFL bettors at the Fanatics Sportsbook cash their any time TD scorers and Overs on Total Points, which are very popular selections for parlays."

The Lions' win over the Vikings caused some hurt within Fanatics Sportsbook across New York. (Photo by David Berding/Getty Images)

Favorite went 7-7 against the spread in Week 7, but thanks to the Chiefs and Lions winning as underdogs, it caused the book to take a bit of a beating.

According to the spokesperson, over 75% of the money wagered on the Lions - Vikings game was on the Lions nationwide, the Chiefs garnered 62.1% of the money, while the Eagles covering the spread against the Giants carried a whopping 83.3% as well.

After Fanatics Sportsbook took a loss in back-to-back weeks, it's a safe bet that its numbers will be in the black following this upcoming weekend's NFL action.

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Mark covers all sports at OutKick while keeping a close eye on the world of professional golf. He graduated from the University of Tennessee-Chattanooga before earning his master's degree in journalism from the University of Tennessee. He somehow survived living in Knoxville despite ‘Rocky Top’ being his least favorite song ever written. Before joining OutKick, he wrote for various outlets including SB Nation, The Spun, and BroBible. Mark was also a writer for the Chicago Cubs Double-A affiliate in 2016 when the team won the World Series. He's still waiting for his championship ring to arrive. Follow him on Twitter @itismarkharris.