Thanksgiving Week Football Betting to Hit Record $4.5B in US Markets
Football betting is set to reach new heights this Thanksgiving week, with an estimated $4.5 billion in wagers expected across regulated U.S. markets between November 25 and December 1, according to Macquarie analyst Chad Beynon. This represents an 11% increase from last year.
NFL player with football on field
The surge in betting activity is supported by several factors:
- Record 38 states plus Washington, DC now permit sports betting
- Three NFL games scheduled for Thanksgiving Day
- Special Black Friday game between Kansas City Chiefs and Las Vegas Raiders
- Multiple college football games throughout the week
- Expected 15% increase in betting volumes compared to last year
Chiefs player with football during Ravens game
Key market insights:
- Flutter Entertainment and DraftKings maintain largest market share
- Smaller operators like Bally's, Caesars Sportsbook, and Rush Street Interactive expected to see significant growth
- BetMGM reporting above-average hold of 11%+ in recent weeks
- Primetime games account for 37% of bets and 10% of handle in week 12
Industry outlook:
- Online gaming sector shows strongest growth potential
- Projected Q4 gross gaming revenue growth of 23%
- 2025 expected year-over-year growth of 18%
- Analysts maintain "outperform" ratings for Caesars Entertainment, DraftKings, Penn Entertainment, and Rush Street Interactive
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