New York sportsbooks had no trouble attracting customers during the opening month of football season. But revenue was down despite the strong results in handle. The state’s eight online sportsbooks handled approximately $2.4 billion in September wagers, an increase of 5% from last year. However, operators generated just $159.4 million in revenue, a 17.7% decline from September 2025. Bettors enjoyed more favorable results, leaving sportsbooks with a much smaller share of the money wagered.
According to the New York State Gaming Commission, operators finished September with a 6.6% hold, down from 8.4% during the same month last year. That was the lowest September hold since mobile sports betting launched in January 2022.
The NFL’s opening week was particularly difficult for sportsbooks. New Yorkers wagered nearly $595 million, but operators generated only $16.96 million in revenue. That works out to a hold of approximately 2.9%, meaning sportsbooks paid back more than 97% of the money wagered.
The betting activity itself was impressive. New York set a new record with nearly $595 million in NFL Week 1 wagers, an increase of almost 13% from the previous season.
Sportsbook results improved later in September, although operators failed to record a double-digit hold in any week.
FanDuel reclaimed the top spot in New York after DraftKings led the state in betting handle during July and August.
FanDuel accepted $904.7 million in wagers, up 14% from September 2025. That was FanDuel’s highest monthly handle since November last year, when it surpassed $1 billion.
Overall, FanDuel generated $63.3 million in revenue, representing a hold of approximately 7%. While that was slightly better than the statewide average, it was considerably lower than the operator’s 9.8% hold in September 2025.
DraftKings wasn’t far behind, handling $840.1 million in wagers while generating $56 million in revenue. Its betting volume declined by approximately $40 million compared with the previous September.
The competition between the two operators has continued into October. FanDuel generated nearly $10 million more revenue than DraftKings during the week ending October 4, even though both sportsbooks handled more than $200 million in wagers.
Fanatics remained New York’s third-largest sportsbook by handle, accepting $266.8 million in bets and generating $14.3 million in revenue. Caesars followed with $152.7 million in wagers, although its $7.9 million in revenue translated to a hold of just over 5%. BetMGM generated $10 million in revenue from $148.4 million in wagers.
The September results are another reminder of how unpredictable sportsbook revenue can be, especially during football season.
Sportsbooks make money by retaining a percentage of the wagers they accept after paying out winning bets. That percentage, known as hold, can change dramatically depending on game results and betting patterns.
For context, New York experienced the opposite situation earlier this year. In April, sportsbooks generated $244.1 million in revenue, a 26.7% increase from the previous year. Betting volume barely changed, but a higher hold helped operators generate significantly more revenue.
