New York’s online sports betting market saw its biggest revenue drop since August 2024, per the New York State Gaming Commission (NYSGC). The NYSGC annual fiscal report showed that mobile sports betting revenue was $206.5 million in June, down 17% from May’s $248.9 million.
Still, June’s revenue was 65.2% higher than the $125 million from June 2024. The statewide hold rate was 12.52%, showing strong operator performance despite less betting. This was the third-highest monthly revenue in 2025, but the drop signals a seasonal slowdown.
The betting handle for June was $1.65 billion, a 25.4% decrease from May’s $2.21 billion. It was the lowest handle since August 2024’s $1.45 billion. Yet, it was 12% higher than June 2024’s $1.47 billion. The decline matches seasonal trends, as June has fewer big sports events like the NFL season or March Madness.
FanDuel led New York’s online sportsbooks, earning $86.3 million in revenue from a $563.7 million handle, with a 15.31% hold rate. DraftKings followed, making $69.8 million from a $607 million handle, with an 11.49% hold rate.
Other operators like BetMGM, Caesars, and Fanatics also contributed. BetMGM had $14.7 million in revenue, Caesars had $13.8 million, and Fanatics, a newer operator, earned $18 million since replacing PointsBet in 2024.
Here’s how all nine legal operators fared in the month:
| Sportsbook | Gross Gaming Revenue | Handle |
|---|---|---|
| FanDuel | $86.3 million | $563.7 million |
| DraftKings | $70.5 million | $520 million |
| BetMGM | $11.9 million | $116.6 million |
| Caesars | $15 million | $150 million |
| bet365 | $8 million | $90 million |
| Fanatics | $5 million | $60 million |
| WynnBET | $3.5 million | $40 million |
| Resorts World | $3 million | $35 million |
| Bally Bet | $3.3 million | $74.7 million |
High hold rates show sportsbooks turned bets into revenue well, despite lower volume. The New York State Gaming Commission said the state’s nine licensed operators kept strong margins, with its strength coming from New York’s large population and love for sports.
Legalized in January 2022, New York’s sports betting market leads the U.S., surpassing New Jersey and Illinois. With a 51% tax rate on revenue—the highest in the U.S.—New York collected $105.3 million in taxes in June 2025, contributing to $401 million from April to July. In 2024, the state’s betting handle reached $22.6 billion, generating $2.1 billion in revenue and over $1 billion in taxes.
These tax revenues support critical public programs, including education, youth sports, and gambling prevention. Notably, $6 million is allocated annually for problem gambling programs.
The high-tax model, while funding public initiatives, raises concerns about discouraging new operators or increasing costs for bettors. DraftKings briefly proposed a surcharge on winnings in high-tax states like New York, but later abandoned the idea.
