Huge January pushes New York sports betting to new heights
Empire State operators set new records with $247m in revenue and $2.48bn in handle
January 2025 was a milestone month across the board for New York sportsbooks, which smashed previous records for both handle ($2.48bn) and gross revenue ($247m), according to new data from the New York State Gaming Commission.
The nearly $2.5bn in handle, which marked the fifth straight month of at least $2bn in aggregate wagering volume, easily eclipsed the previous monthly record of $2.32bn in October 2024 and represented a 26.9% year-over-year (YOY) increase from the same period of last year.
It was a similar story for revenue, with January’s $247m haul significantly higher than the short-lived high-water mark of $231.6m established in November. Revenue was up 16.8% YOY and 64.3% month-over-month (MOM) thanks to a sturdy 9.96% hold that registered more than three full points higher than December’s 6.6% figure.
When factoring in New York’s 51% tax rate and a $23m BetMGM adjustment, that gave way to $149m in operator tax payments back to the state to benefit education.
Turning to operators, FanDuel continued to lead the way and accordingly set new monthly records with $965.1m in handle and $111.3m in revenue, equating to an 11.5% hold that was unmatched by its competitors.
DraftKings ranked second after accruing $82m in revenue on $837.9m in handle for a solid 9.8% win rate that was in line with the statewide mark.
Caesars grabbed the final spot on the podium with $15.8m in revenue despite ranking fifth in total handle at $163.2m. BetMGM ($194.8m) and Fanatics ($194.1m) each accepted more bets but were only able to generate revenue of $14.8m and $15.1m, respectively, due to lower holds.
Sportsbooks can thank the most football-rich month to date – which included the final six games of the first expanded 12-team College Football Playoff, Week 18 of the NFL regular season, and 12 ensuing NFL post-season games – for the banner results.