Record $4.5B in Football Bets Expected During Thanksgiving Week
Americans are expected to wager approximately $4.5 billion on sports during Thanksgiving Week (Nov. 25 - Dec. 1), representing an 11% increase from last year, according to Macquarie analyst Chad Beynon.
NFL player with football on field
A record 38 states plus Washington, DC now allow sports betting, contributing to an estimated 15% surge in betting volumes compared to last year. The NFL remains the primary driver, featuring three Thanksgiving Day games, the Chiefs-Raiders matchup on Black Friday, and the regular Sunday schedule. College football also offers numerous betting opportunities throughout the week.
Chiefs player with football during Ravens game
While Flutter Entertainment and DraftKings dominate market share, smaller operators like Bally's, Caesars Sportsbook, and Rush Street Interactive are expected to see significant year-over-year growth in hold rates. BetMGM has recently demonstrated strong performance with hold rates exceeding 11%.
Thanksgiving games attract particularly high betting interest, with primetime games accounting for 37% of bets and 10% of handle in week 12 of the NFL season. Industry analysts remain bullish on sports betting stocks, particularly favoring operators with online gaming exposure due to their higher gross gaming revenue growth potential. Forecasts indicate a 23% increase in Q4 GGR and 18% year-over-year growth in 2025.
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