Consumers in New York spent a total of $23.94 billion (£18.32 billion/€21.07 billion) betting on sports during the 2024-25 fiscal year, a new record for the Empire State.
The total from April 2024 to March 2025, published by the New York State Gaming Commission, surpasses the $19.64 billion wagered in 2023-24 by 21.9%. It is also the highest annual sports betting handle ever posted by a US state.
In terms of gross gaming revenue, this amounted to $2.14 billion for the fiscal year. This is another record for New York and beat the previous year by 21.6%.
This resulted in an annual hold of 8.94%, slightly lower than 8.98% in 2023-24.
FanDuel betting handle nears $10 billion
Breaking down the market, Flutter Entertainment-owned FanDuel continues to lead the way by some margin. FanDuel processed a record $9.2 billion in bets and reported revenue of $969.8 million, leaving a 10.54% hold.
As has been the case for some time, DraftKings remains the closest challenger. Handle hit $8.6 billion and revenue $727.9 million, meaning a hold of 8.46%. Caesars completed the top three with $131.4 million off $1.45 billion for a 9.09% hold.
Elsewhere, BetMGM took $121.4 million from $1.71 billion, resulting in a hold of 7.1%. Just behind was Fanatics, reporting $120.2 million off a $1.61 billion handle for a 7.48% hold.
Rush Street Interactive performed the best out of the chasing pack. The operator reported $39.9 million in revenue from handle of $582.7 million, leaving a 6.85% hold. ESPN Bet was next with $14.4 million off $234.9 million, meaning a 6.13% hold. However, this does not include data for March, with figures not published for the past month.
Bally Bet took $7.6 million off $110.5 million for a 6.88% hold. Finally, Resorts World Bet propped up the market with $6.5 million from $89.6 million, leaving a hold of 7.25%.
Handle falls just short of New York monthly record in March
Looking to the final month of the fiscal year, players spent a total of $2.44 billion in March. This beat the previous year by 31.9% and was just 2% behind the state record of $2.49 billion in January this year.
Revenue-wise, the monthly total for March topped $161.8 million. The total was 6% ahead of March 2023 but 34.5% short of January’s $247.0 million record.
State hold for the month amounted to 6.63%.
DraftKings edges ahead of FanDuel
For the first time in over a year, DraftKings pipped FanDuel to top spot in both revenue and handle. In March, DraftKings took $62.6 million in revenue off $912.1 million for a 6.86% hold.
FanDuel placed second with $59.5 million from $862.2 million, meaning a slightly higher hold than DraftKings of 6.9%.
Other stand-out performers in March include Fanatics with $12.9 million off $207.5 million for a 6.22% hold. BetMGM was just behind on $11 million from $169.2 million, leaving a hold of 6.49%.
Caesars was next with $8.5 million from $162.1 million, meaning a 5.24% hold. Rush Street Interactive was the only other operator to see revenue exceed $1 million, reporting $2.9 million off $51.8 million for a 5.6% hold.
Resorts World Bet took $376,410 from $10.5 million, resulting in a 3.57% hold. Next, Bally Bet finished with revenue of $261,876 from $10.7 million for a 2.45% hold. As noted above, ESPN Bet did not publish data for March.
