New York Breaks Sports Betting Records with Over $23 Billion in Wagers for 2024-25
In an impressive display of enthusiasm for sports betting, New York consumers wagered a staggering $23.94 billion (£18.32 billion/€21.07 billion) during the 2024-25 fiscal year, setting a new benchmark for the state. This figure represents a remarkable 21.9% increase compared to the previous fiscal year, wherein $19.64 billion was wagered, according to the latest report from the New York State Gaming Commission.
This spike in sports betting not only highlights the growing popularity of the market but also establishes New York as a leader in the nation’s gaming landscape. The reported gross gaming revenue for the same period reached $2.14 billion—a 21.6% rise from the prior year—demonstrating the thriving nature of this sector. Despite the increase in overall revenue, the annual hold was recorded at 8.94%, slightly down from 8.98% in the previous fiscal year.
FanDuel’s Dominance: Nearly $10 Billion in Bets
Delving further into the individual performances of operators, FanDuel, a subsidiary of Flutter Entertainment, continues to dominate the market with a record $9.2 billion in bets, yielding a revenue of $969.8 million and a hold of 10.54%. This impressive lead showcases the brand’s ability to engage and retain bettors effectively.
DraftKings remains a significant competitor, reporting a handle of $8.6 billion and revenues of $727.9 million, giving it a hold of 8.46%. Caesars rounds out the top three, with a notable $131.4 million in revenue from a $1.45 billion handle, translating to a 9.09% hold.
Other notable players included BetMGM and Fanatics, which reported $121.4 million from $1.71 billion in bets (7.1% hold) and $120.2 million from a $1.61 billion handle (7.48% hold), respectively. Meanwhile, Rush Street Interactive experienced encouraging growth, generating $39.9 million from a $582.7 million handle, achieving a hold of 6.85%. ESPN Bet provided a less comprehensive snapshot as data for March was not made available in the report.
March Sees Near-Record Wagering in New York
As the fiscal year drew to a close, March 2025 witnessed residents betting a total of $2.44 billion, which represents a 31.9% increase over the previous year. This figure edged just shy of the state’s all-time monthly high of $2.49 billion recorded in January. The state garnered revenue totaling $161.8 million in March—6% higher than the previous March but significantly lower than the record $247 million attained in January.
For the month, the state’s overall hold was clocked at 6.63%, indicating a steady performance even amid the fluctuations in betting amounts.
A Competitive March: DraftKings Overtakes FanDuel
In a surprising turn, DraftKings managed to outperform FanDuel in March, achieving $62.6 million in revenue from a handle of $912.1 million, resulting in a hold of 6.86%. FanDuel, while still impressive, followed closely with $59.5 million from $862.2 million, holding marginally higher at 6.9%.
Highlighting other notable performances, Fanatics gathered $12.9 million from $207.5 million (6.22% hold), while BetMGM recorded $11 million from $169.2 million for a hold of 6.49%. Caesars posted $8.5 million from a handle of $162.1 million for a lower 5.24% hold.
Rush Street Interactive provided one of the few other revenue reports exceeding the million-dollar mark, with $2.9 million from $51.8 million (5.6% hold). Other operators, such as Resorts World Bet and Bally Bet, fell short of noteworthy revenue, bringing in $376,410 and $261,876, respectively.
Overall, the upward trajectory in New York’s sports betting market illustrates the growing normalization and acceptance of this form of entertainment, establishing both consumer enthusiasm and significant economic impacts for the state.