New York sets U.S. record with $23.94B in online sports betting handle in FY2024-25

Consumers in New York spent $23.94 billion betting on sports during the 2024-25 fiscal year, setting a new record for both the state and the United States, according to data released by the New York State Gaming Commission.

The figure represents a 21.9% increase over the $19.64 billion wagered in the previous fiscal year and marks the highest annual sports betting handle ever posted by a U.S. state.

Gross gaming revenue (GGR) for the period from April 2024 through March 2025 rose 21.6% to $2.14 billion, with a statewide hold of 8.94%, marginally down from 8.98% the year before.

Flutter-owned FanDuel led the market with $9.2 billion in handle and $969.8 million in revenue, posting a 10.54% hold. DraftKings followed with $8.6 billion in handle and $727.9 million in revenue, translating to an 8.46% hold.

Caesars rounded out the top three with $1.45 billion in wagers and $131.4 million in revenue, achieving a 9.09% hold. Other notable operators included BetMGM with $1.71 billion in handle and $121.4 million in revenue; Fanatics with $1.61 billion in handle and $120.2 million in revenue; and Rush Street Interactive, with $582.7 million in handle and $39.9 million in revenue.

ESPN Bet, which did not report figures for March, recorded $14.4 million in revenue from $234.9 million in handle prior to that month.

In March 2025, the final month of the fiscal year, bettors wagered $2.44 billion — up 31.9% from the previous year and just 2% shy of January’s all-time monthly high of $2.48 billion. Revenue for March reached $161.8 million, up 6% year-on-year, though down 34.5% from January’s $247 million.

DraftKings led the month in both handle and revenue for the first time in over a year, taking in $912.1 million in bets and $62.6 million in revenue, slightly ahead of FanDuel’s $862.2 million handle and $59.5 million in revenue.

For the first time since mobile sports betting was legalized in the state in 2022, every month in the fiscal year has surpassed $1 billion in handle.

A total of $1.11 billion will be allocated to support education in the state, including $6 million for gambling education and treatment programs and $5 million for youth sports activities, the commission confirmed.