New York online sports betting had a successful April. There was a 4.8% increase in the New York mobile sports betting revenue from last year, per the New York State Gaming Commission. The Empire State’s betting handle is now up to $2.15 billion, a 9.6% increase from $1.96 billion in April 2024.
Here is a comparison of some of the operators’ market share in New York in April:
| Operator | Sports Betting Handle | Gross Gaming Revenue |
|---|---|---|
| FanDuel | $822.5 million | $84.8 million |
| DraftKings | $727.3 million | $66.8 million |
| Fanatics | $175.7 million | $12.5 million |
| BetMGM | $154.1 million | $11.2 million |
| Caesars | $153.4 million | $9.7 million |
| ESPN BET | $56 million | $3 million |
There was a 19.1% increase in revenue in April compared to March of this year. This comes after a 20% year-over-year increase in New York sports betting handle this past March.
Fanatics Betting and Gaming completed its acquisition of PointsBet in April 2024, launching in several states, including New York. This was a rebranded version of PointsBet, which was having challenges establishing a foothold in the US market. Despite a late entry into the New York market, Fanatics is in the top three for sports betting handle and gross gaming revenue in April.
The same cannot be said for ESPN BET. When ESPN entered a 10-year, $2 billion licensing agreement with Penn Entertainment, there were high hopes that replacing Barstool Sportsbook with the Worldwide Leader in Sports would make ESPN BET a major success. But as we can see in April results, that hasn’t been the case in New York.
ESPN BET launched in New York right at the start of NFL season in September 2024, which gave them a six-month head start on Fanatics. Despite this, Fanatics ($175.7 million handle, $12.5 million gross gaming revenue) has significantly outfperformed ESPN BET ($56 million handle, $3 million gross gaming revenue).
One clear difference between the two operators is that Fanatics allows users to earn FanCash each time they place a wager, which can be redeemed for sports merchandise. It’s a way that Fanatics can leverage its position as a leading sports apparel provider with its online sportsbook. ESPN BET has your standard promotions like odds boosts and welcome bonuses, but nothing like FanCash.
BetMGM and Caesars, two other established brands in the sports betting industry, have been available in New York since their January 2022 launch dates. However, both online sportsbooks have fallen behind Fanatics in market share. This is a clear indicator of an increased focus in their online casino platforms.
Caesars saw 83% growth in online casinos in Q3 2024, where CEO Tom Reeg highlighted how they have positioned themselves as an industry leader, consistently outperforming the competition. BetMGM also had a strong Q1 2025 due to its online casino platform, with a recent press release highlighting their revised focus in making online casino its main priority.
Online casinos are still illegal in New York, so this shift to iGaming has had a negative impact on their overall market share in the Empire State. With that in mind, it’s no surprise that both BetMGM and Caesers have been overtaken by Fanatics.
As the NBA and NHL playoffs start to wind down in May and June, projected revenue and betting handle is likely to slow down its growth in New York. Bettors can choose from MLB, golf, and tennis as the most popular markets during this time, but this is now considered the slow part of the year for sports betting.
Perhaps as MLS continues to grow across the country, this can result in more revenue during these slower months.
