New York eclipses $200m in May sports betting revenue
Empire State’s nine mobile operators generate just under $2bn in monthly handle in strongest month for GGR since January
May marked a huge month for sports betting in New York, with the state’s Gaming Commision reporting $203.3m in wagering revenue, in range of the all-time record of $211.5m established in January.
The revenue figure represented a 34% year-on-year (YOY) increase from May 2023 and a 10.6% increase from $183.8m in April 2024 revenue.
For the month, New York’s nine online sportsbooks combined to generate $1.97bn in handle, a 45.1% YOY surge from the same period of 2023.
As a result, statewide hold percentage checked in at 10.3%, the second time this year Empire State operators have cracked the double-digit threshold for win rate.
When factoring in New York’s 51% tax rate, a total of $103.7m was sent back to the state in tax payments to benefit education.
In terms of operators, FanDuel topped the list on the revenue side, generating $88m on $747.5m in total wagering volume for a robust 11.8% hold.
DraftKings, meanwhile, earned the top spot for handle, accepting $812.3m in total wagers – a monthly record for the Boston-based operator – from which it generated $84.2m in revenue.
Caesars ranked a distant third in both categories, tallying $11.1m in revenue from $160.1m in handle, equating to a below-average 6.9% hold.
Also notable was Fanatics, which enjoyed its second straight record-setting month in terms of revenue, totaling just over $7m while handling $71.7m in wagers.
Through the first five months of the year, New York mobile operators have combined to generate $9.51bn in cumulative handle and $881.7m in revenue.
New York operators will also be required to improve responsible gambling messaging across ads in the market after the Senate unanimously backed a new bill last month.