New York sports betting handle tops $23.94 billion in 2024-25

New York’s sports betting landscape has reached new heights, with consumers wagering an astonishing $23.94 billion (£18.32 billion/€21.07 billion) during the 2024-25 fiscal year, according to the latest report from the New York State Gaming Commission.

This unprecedented total, recorded from April 2024 to March 2025, marks a remarkable 21.9% increase over the previous year’s total of $19.64 billion and establishes the highest annual sports betting handle seen in any U.S. state to date.

In terms of gross gaming revenue (GGR), New York’s record performance yielded $2.14 billion for the fiscal year, outperforming the previous year by 21.6%. This translates to an overall hold percentage of 8.94%, which experienced a slight decrease from the 8.98% recorded in 2023-24.

FanDuel’s Market Domination: Nearing $10 Billion

In the competitive landscape of New York sports betting, Flutter Entertainment’s FanDuel maintains a commanding lead, processing a record-breaking $9.2 billion in bets. With revenue reported at $969.8 million, FanDuel achieved an impressive hold of 10.54%, solidifying its position as a frontrunner.

DraftKings continues to trail closely, recording a handle of $8.6 billion and generating revenue of $727.9 million, resulting in a hold of 8.46%. Caesars Entertainment rounded out the top three, generating $131.4 million in revenue from a handle of $1.45 billion, equating to a hold of 9.09%.

Other notable market contributors include:

• BetMGM: $121.4 million in revenue from $1.71 billion in bets, achieving a hold of 7.1%.
• Fanatics: $120.2 million in revenue from a handle of $1.61 billion, resulting in a hold of 7.48%.
• Rush Street Interactive: Reported $39.9 million in revenue from a handle of $582.7 million, yielding a hold of 6.85%.
• ESPN Bet: Registered $14.4 million from a handle of $234.9 million, translating to a hold of 6.13%. (Note: Data for March is not yet available.)
• Bally Bet: Claimed $7.6 million from a handle of $110.5 million, achieving a hold of 6.88%.
• Resorts World Bet: Reported $6.5 million from a handle of $89.6 million, resulting in a hold of 7.25%.

March Stakes: Handle Approaches Monthly Record

In a thrilling finish to the fiscal year, March saw players spending $2.44 billion, marking a substantial 31.9% increase compared to the previous year. This figure narrowly missed the state record of $2.49 billion established in January, falling just 2% short.

March’s revenue totaled $161.8 million, reflecting a 6% increase from March 2023, though it remained 34.5% below January’s remarkable $247.0 million record. The state maintained a hold of 6.63% for the month.

March Highlights: DraftKings Takes the Lead

In a significant shift, DraftKings outperformed FanDuel in March for both revenue and handle, generating $62.6 million from a total of $912.1 million and achieving a hold of 6.86%. This marked the first time in over a year that DraftKings topped the rankings.

FanDuel followed closely with $59.5 million in revenue from a handle of $862.2 million, resulting in a slightly higher hold of 6.9%. Other noteworthy performances included:

• Fanatics: $12.9 million from $207.5 million, yielding a hold of 6.22%.
• BetMGM: $11 million from a handle of $169.2 million, equating to a hold of 6.49%.
• Caesars: $8.5 million from a total of $162.1 million, resulting in a hold of 5.24%.
• Rush Street Interactive: Over $1 million in revenue, achieving $2.9 million from $51.8 million for a hold of 5.6%.
• Resorts World Bet: $376,410 from a handle of $10.5 million with a hold of 3.57%.
• Bally Bet: Generated $261,876 from $10.7 million, resulting in a hold of 2.45%.

It is essential to note that ESPN Bet has not released data for March, which could potentially impact the understanding of market dynamics for that period.

The robust performance of New York’s sports betting market illustrates not only the increasing popularity of wagering in the state but also highlights the fierce competition among operators. As this dynamic industry continues to grow, stakeholders must remain adept at adapting to trends and regulatory developments to capitalize on emerging opportunities.