Monthly player spending on sports betting in New York dropped below $2 billion (£1.53 billion/€1.82 billion) for the first time in six months during February, although the state was able to report year-on-year growth across handle and revenue.
Players in New York wagered a total of $1.98 billion in February. This is 11.2% ahead of last year but 20.2% behind January’s record $2.48 billion sports betting spend.
Monthly handle has not been this low since $1.44 billion was wagered in August last year.
Data from the New York State Gaming Commission also reveals that revenue in February reached $184.8 million. The figure is 40.8% more than February 2024 but 25.2% less than January’s record $247 million haul.
As such, monthly sports betting hold in the state was 9.24%.
FanDuel still the one to beat in New York
Breaking down the market, Flutter Entertainment’s FanDuel remains the leader in New York. During February, it took $738.5 million in wagers and posted revenue of $92.5 million for an impressive 12.53% hold.
DraftKings is still the closest challenger but is some way off FanDuel’s pace in revenue and hold terms. Its sports betting revenue hit $51.6 million off a $717.4 million handle, meaning a 7.19% hold.
BetMGM moved up the rankings to third, posting $11.8 million from $130.2 million for a 9.06% hold.
Fanatics was next with $11 million off a $169.5 million handle, resulting in a hold of 6.49%. Caesars completed the top five with revenue of $10 million off $128.6 million in wagers for a 7.78% hold.
ESPN Bet edges up the rankings
Elsewhere, ESPN Bet continued to gain ground in February, moving up the rankings to sixth in revenue terms. It generated $3.8 million off $43.3 million in bets for a hold of 8.72%.
Rush Street Interactive was the only other operator to surpass $1 million in revenue. In February, it took $2.8 million off $42.1 million, resulting in a 6.67% hold.
Resorts World Bet moved off the bottom of the rankings by posting $607,970 in revenue off a $7.9 million handle, leaving a 7.71% hold, Bally Bet slipped to the bottom of the table with $484,391 from a $2.7 million handle, meaning a 6.73% hold.
