Bettors in New York won big on Knicks' championship

The Knicks’ championship run in June was a boon for local bettors.

Not so much for the state’s coffers.

That month, New Yorkers bet more than $2.2 billion on sports, an increase of 37% from the previous June, according to a report released Wednesday by the state comptroller’s office.

But because apparently so many bet on their home state Knicks, the underdogs who upset the San Antonio Spurs in the NBA Finals, gross gaming revenue for betting platforms posted a $14.4 million loss. That's the amount betting platforms take in after paying out winning bets.

Among other findings, the report said basketball — not football — was by far the most popular sport to bet on, as measured by total wagers.

And soccer’s World Cup sparked a nearly 50% boom in sports wagering for the seven weeks it was played in the United States, Comptroller Thomas P. DiNapoli reported.

The report notes that during the NBA Finals, more than $1 billion in mobile sports bets were made in New York.

The Knicks were considered underdogs and sportsbooks advertised high odds for them to win. And when they did, gross gaming revenue showed a net loss of $14 million.

That matters because the state takes a 51% cut of gross game revenue.

In 2025, New Yorkers spent more than $25 billion on mobile sports betting.

The most popular sport to bet on is basketball, with more than $9 billion wagered in 2025. Football was the second most popular sport, with over $5 billion in bets placed, followed by baseball, tennis and soccer.

New York’s soccer bettors were not as successful as their basketball counterparts.

Excluding the week of the NBA Finals, wagering during the World Cup totaled $2.5 billion, which is 46% higher than similar weeks in 2025, according to the report. But unlike the NBA, gross gaming revenue posted a net gain during the World Cup, $85 million.

New York bettors’ interests go far beyond the major American sports, according to a recent report from the state’s Gaming Commission and the Office of Addiction Services and Supports.

There was more than $87 million in wagers placed on cricket in 2025, another $55 million on darts and nearly $20 million bet on table tennis matches.

Even niche sports like Aussie rules football, sailing, snooker and jai alai saw betting action last year.

Bettors even placed $6,000 in bets on cornhole.