New York’s online sports betting market reached historic highs in January 2025, setting new records for both total handle and gross gaming revenue, as operators continued to capitalize on strong demand.
According to data from the New York State Gaming Commission, total handle—the amount wagered by bettors—hit $2.48 billion, breaking the previous record of $2.32 billion set in October 2024. The new figure marks a 6.9% increase from that month and a 25.9% rise compared to January 2024.
Gross gaming revenue also reached an all-time high of $247.0 million, exceeding the previous record of $231.6 million from November 2024 by 6.7%. Year-over-year, revenue rose 16.7%.
Flutter Entertainment-owned FanDuel continued its dominance in New York, leading the market with a record-breaking handle of $965.1 million and an all-time high revenue of $111.3 million for the month. The operator posted an 11.53% hold, the highest among major sportsbooks.
DraftKings, its closest competitor, recorded $837.9 million in handle and $82.0 million in revenue, resulting in a 9.79% hold.
Caesars Sportsbook placed third, generating $15.8 million in revenue from $163.2 million in wagers (9.68% hold), while Fanatics Sportsbook followed with $15.1 million in revenue on $194.1 million in bets (7.78% hold).
BetMGM rounded out the top five, bringing in $14.8 million in revenue from a $194.8 million handle (7.60% hold).
ESPN Bet, which launched in late 2023, posted its best monthly performance to date with $2.4 million in revenue from $59.2 million in wagers (4.05% hold).
Other operators’ performances included:
• Rush Street Interactive (BetRivers): $3.9 million in revenue from $48.2 million handle (8.09% hold).
• Bally Bet: $1.0 million in revenue from $10.3 million handle (9.71% hold).
• Resorts World Bet: $683,618 in revenue from $7.9 million handle (8.66% hold).
For the week ending February 2, 2025, New York reported a total handle of $518.9 million, with gross gaming revenue reaching $56.3 million. At the state’s 51% online sports betting tax rate, this resulted in $28.7 million in tax revenue.
Since launching online sports betting on Jan. 8, 2022, New York has maintained its position as the largest online sports betting market in the U.S.
Total lifetime gross gaming revenue by operator:
• FanDuel: $2.55 billion
• DraftKings: $1.72 billion
• Caesars: $508.2 million
• BetMGM: $292.3 million
• Fanatics Sportsbook: $153.9 million
• BetRivers: $103.6 million
• ESPN Bet: $11.2 million
• Bally Bet: $9.3 million
• Resorts World: $15.1 million
Original article: https://www.yogonet.com/international/news/2025/02/12/94906-new-york-sports-betting-hits-record-248-billion-in-january-led-by-fanduel
