New York’s Sports Betting Scene: A Record August
In an impressive display of consumer engagement, New York’s sports betting market reached a staggering $2.04 billion in wagers last month, translating to a noteworthy revenue of $178.2 million.
A Significant Upsurge in Wagering
August marked a pivotal moment for online sports betting in New York, with the total wagers surpassing the $2 billion mark for the first time since May. According to the New York State Gaming Commission, this monthly handle not only exceeded the previous year’s figures by an impressive 41.9% but also represented a 45.9% increase over July’s $1.4 billion.
Revenue Insights
Gross gaming revenue for the month registered at $178.2 million, reflecting a 42.6% year-on-year surge and a 14.5% uptick from July. However, it’s noteworthy that this figure ranks as the third-lowest monthly revenue to date in the 2025 calendar year, highlighting fluctuating trends in the market.
With a hold percentage of 8.72%, operators are navigating a competitive landscape as they vie for the top spot.
FanDuel Remains Dominant
Leading the charge, FanDuel, part of Flutter Entertainment, amassed $66.9 million in revenue with a handle of $561.9 million, achieving a hold rate of 11.91%. This cements its position as the leading sportsbook in New York as consumer interest persists.
DraftKings, although lagging in revenue, attracted more bets than its competitor, generating $62.3 million from a handle of $579.6 million, resulting in a hold of 10.75%.
Fanatics Breaks Records
A standout performance came from Fanatics, which secured $16.1 million with a handle of $565.8 million, marking its highest monthly wagers to date. This surge was partly attributed to a single bettor contributing nearly $120 million within just one week. Despite this remarkable activity, the hold was a modest 2.85%.
Other Notable Operators
BetMGM followed with $13.8 million in revenue from a $130.4 million handle, achieving a 10.58% hold. Caesars rounded out the top five, reporting $10.7 million in revenue off $113.5 million, with a hold of 9.43%.
In smaller stakes, Rush Street Interactive recorded $4 million from a $40.8 million handle (9.8% hold), while ESPN Bet closely followed with $3.6 million on the same amount wagered (8.82% hold). Bally Bet and Resorts World ended up with more modest figures, grappling for market share amid stiff competition.
Conclusion
The numbers from New York’s sports betting landscape encapsulate a dynamic environment, where consumer interest is driving significant financial engagement. As operators continue to adapt and evolve, the focus on innovation and customer experience will be crucial for maintaining momentum in this vibrant market.