New York’s online sports betting industry set a new monthly revenue record of $248.9 million in May 2025. The figure marks a 0.4% GGR increase from the previous record reported in January 2025. More dramatically, May 2025 saw a 22.1% year-on-year rise and a whopping 29.2% increase compared to April.
The New York State Gaming Commission also reported a handle of $2.21 billion in May 2025, representing an 11.6% increase from May 2024. However, the latest monthly handle was 10.8% shy of January’s $2.48 billion but still surpassed it in gross gaming revenue.
The primary event driving the elevated betting activity was the NBA Eastern Conference Finals, where the Indiana Pacers eliminated the New York Knicks in six games. Indeed, the final two weeks of May generated over $127 million, accounting for more than half of the total gross revenue.
Top 3 Operators in New York
The top performers remain unchanged from April 2024. FanDuel continues to dominate the Empire State, generating $108.8 million in GGR from a handle of $803.1 million.
DraftKings sits firmly in second, following a brief stint at the top last March. DraftKings netted $84.2 million from a $785 million handle, resulting in a 10.73% hold. The distant third operator in New York is Fanatics, with a hold of 9.06% made from $18 million in revenue and a $190.6 million handle. GGR at BetMGM and Rush Street Interactive complete the top 5.
The average hold for May was 11.23%.
New York Sports Betting Market Outlook
The sports betting market in New York remains as healthy as ever. April and May 2025 mark the most profitable two-month stretch in New York sports betting since legalization took effect in January 2022.
The first five months of 2025 are also the best-performing in any year, generating over $1 billion in revenue. Of that money, over $490 million was paid in state taxes, $126.9 million in May alone.
With a diverse range of operators and a steady increase in player engagement, the outlook for the remainder of 2025 remains positive.
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