New York State Gaming Commission Reports Historic Sports Betting Revenue
Consumers in New York spent a total of $23.94 billion (£18.32 billion/€21.07 billion) betting on sports during the 2024-25 fiscal year, setting a new record for the Empire State. The total from April 2024 to March 2025, as reported by the New York State Gaming Commission, surpasses the previous year’s figure of $19.64 billion wagered in 2023-24 by 21.9%. This achievement marks the highest annual sports betting handle ever recorded by a state in the U.S. New York Gaming Revenue
In terms of gross gaming revenue, New York generated $2.14 billion for the fiscal year, another record that exceeded the previous year’s revenue by 21.6%. This resulted in an annual hold of 8.94%, which is slightly lower than the 8.98% hold recorded in 2023-24.
Focusing on individual market performance, Flutter Entertainment-owned FanDuel continues to lead in the sports betting landscape, processing a remarkable $9.2 billion in bets and reporting revenue of $969.8 million, resulting in a hold of 10.54%. DraftKings remains the closest competitor, with a handle of $8.6 billion and revenue of $727.9 million, reflecting a hold of 8.46%. Caesars rounds out the top three, collecting $131.4 million from a $1.45 billion handle for a 9.09% hold.
Other notable operators include BetMGM, which took $121.4 million from $1.71 billion, yielding a hold of 7.1%. Fanatics reported $120.2 million in revenue from a handle of $1.61 billion, resulting in a 7.48% hold. Rush Street Interactive stood out among the chasing pack, earning $39.9 million from a handle of $582.7 million, leaving a hold of 6.85%. ESPN Bet reported $14.4 million off $234.9 million, resulting in a 6.13% hold, though it did not include data for March. Bally Bet and Resorts World Bet completed the figures with $7.6 million from $110.5 million (6.88% hold) and $6.5 million from $89.6 million (7.25% hold), respectively.
In March, the final month of the fiscal year, players spent a total of $2.44 billion, which marked a 31.9% increase from the previous year and was just 2% shy of the state record of $2.49 billion set in January. Revenue for March topped $161.8 million, 6% ahead of March 2023 but 34.5% short of January’s $247.0 million record. The state’s hold for March amounted to 6.63%.
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In a surprising turn, DraftKings surpassed FanDuel for the first time in over a year, taking the top spot in both revenue and handle for March. DraftKings reported $62.6 million in revenue from a handle of $912.1 million, achieving a 6.86% hold. FanDuel followed closely, generating $59.5 million from $862.2 million, with a slightly higher hold of 6.9%.
Other standout performers in March included Fanatics, which reported $12.9 million off a handle of $207.5 million for a hold of 6.22%, and BetMGM with $11 million from $169.2 million, resulting in a 6.49% hold. Caesars collected $8.5 million from $162.1 million, yielding a 5.24% hold. Rush Street Interactive was the only other operator to exceed $1 million in revenue, with $2.9 million from a handle of $51.8 million, resulting in a 5.6% hold. Resorts World Bet earned $376,410 off a handle of $10.5 million for a 3.57% hold, while Bally Bet finished with revenue of $261,876 from $10.7 million for a 2.45% hold. It is important to note that ESPN Bet did not publish data for March. New York Gaming Revenue
