July 3, 2026 — Sportsbooks across the United States reported multimillion-dollar losses after the New York Knicks advanced to the NBA Finals, snapping a 241-week run of profitable results.
The unexpected deficit, described by one industry insider as “not good,” marked the first time in more than four and a half years that operators finished a week in the red.
Bookmakers said heavy wagering on the Knicks throughout their playoff run overwhelmed their usual margins, leading to the rare setback.
No individual company disclosed its exact figures, but several confirmed the combined hit ran into the millions of dollars.
Operators did not indicate when they expect to recoup the losses, though they emphasized that a single week’s results do not change their long-term outlook.
Source: New York Post
