New York sports betting handle dips to six-month low in February

In February, New York’s monthly player spending on sports betting dipped below the $2 billion mark, reaching $1.98 billion (£1.53 billion/€1.82 billion) for the first time in six months. Despite this decline, the state recorded notable year-on-year growth in both handle and revenue.

February’s total wagers reflect an 11.2% increase compared to the same period last year, although they fell by 20.2% from January’s record-setting $2.48 billion. This marks the lowest monthly handle since August of the previous year when $1.44 billion was wagered.

According to data from the New York State Gaming Commission, February’s revenue tallied $184.8 million, representing a 40.8% increase compared to February 2024, but a 25.2% decrease from January’s impressive $247 million total.

This resulted in a monthly sports betting hold of 9.24% for the state, demonstrating some fluctuations in market performance.

FanDuel: The Uncontested Market Leader in New York

As the market analysis reveals, Flutter Entertainment’s FanDuel continues to dominate New York’s sports betting landscape. In February, the platform recorded an impressive $738.5 million in total wagers and achieved a revenue of $92.5 million, reflecting a robust hold of 12.53%.

DraftKings remains the primary contender, although it is significantly trailing behind FanDuel in both revenue and hold metrics. The platform generated $51.6 million from a $717.4 million handle, translating into a 7.19% hold.

BetMGM has successfully ascended to the third position, reporting a revenue of $11.8 million based on a $130.2 million handle, resulting in a 9.06% hold. Meanwhile, Fanatics followed closely with $11 million from a $169.5 million handle and a hold of 6.49%. Caesars rounded out the top five with a revenue of $10 million from $128.6 million in wagers, yielding a hold of 7.78%.

ESPN Bet Rises in the Rankings

In other developments, ESPN Bet has made strides upward in the rankings, securing the sixth position in revenue. The platform recorded $3.8 million in revenue from $43.3 million in bets, achieving an 8.72% hold.

Additionally, Rush Street Interactive emerged as the only other operator surpassing the $1 million revenue mark, generating $2.8 million from a $42.1 million handle, corresponding to a 6.67% hold.

Resorts World Bet improved its standing, registering $607,970 in revenue from a $7.9 million handle for a 7.71% hold. Conversely, Bally Bet dropped to the bottom of the rankings, with revenue of $484,391 generated from a $2.7 million handle, resulting in a 6.73% hold.

This comprehensive analysis reveals the evolving landscape of New York sports betting, with fluctuating spending patterns and varying performance levels across major operators, thus underscoring the dynamic nature of the gambling industry.