New York Sports Betting Grows in Q1 and April

NEW YORK — The state of New York continued to assert its dominance in the U.S. online sports betting landscape in April, as both revenue and handle posted year-on-year gains. According to the latest figures from the New York State Gaming Commission, online sportsbooks handled $2.15 billion in wagers during the month, a 9.1% increase compared to the $1.97 billion recorded in April 2024.

Despite the annual growth, the monthly handle declined by 12.2% from the $2.45 billion reported in March. The seasonal dip is not unusual, as March typically benefits from heavy betting around NCAA basketball’s March Madness tournament. Nonetheless, April's figures reflect a strong baseline for New York’s maturing market, suggesting continued bettor engagement outside of major sporting events.

More notably, sportsbook operators generated $192.7 million in gross gaming revenue (GGR) in April. This represents a 4.7% increase over the same month last year and a striking 18.9% rise from March, despite the lower handle. The figures imply improved profitability, with sportsbooks reporting a statewide hold—the percentage of wagers kept as revenue—of 8.95%, a notable jump from prior months.

New York’s aggressive tax model continued to deliver substantial returns for public coffers. With a 51% tax rate on sportsbook revenue, April’s tax contributions exceeded $98.3 million. This further solidifies the Empire State’s status as a cornerstone of the national sports betting economy, with monthly tax collections that often outpace smaller states’ annual totals.
FanDuel Regains Top Position Amid Operator Shakeup

In the competitive race among sportsbooks, April saw FanDuel retake the top spot from DraftKings, reversing a brief slump in March. The Flutter Entertainment-owned operator posted $84.8 million in revenue from a total handle of $822.5 million, translating to a hold rate of 10.31%. The strong performance suggests FanDuel’s marketing and pricing strategies resonated with users and delivered favorable outcomes.

DraftKings, which led in March, slipped to second place with $66.8 million in revenue from $727.3 million in wagers. Despite the decline in rank, the operator maintained a solid hold of 9.18%, remaining highly competitive in New York’s tightly contested market.

Fanatics Sportsbook, still in the early stages of its market expansion, continued to build momentum. The operator generated $12.5 million in revenue from $175.7 million in bets, producing a 7.11% hold. Though a distant third in volume, Fanatics is positioning itself as a credible challenger to the established leaders through brand leverage and recent acquisitions.

 

Mid-Tier Operators Show Mixed Results

Further down the list, BetMGM recorded $11.2 million in revenue on a $154.1 million handle, yielding a hold of 7.27%. Caesars Sportsbook posted slightly lower revenue at $9.7 million from $153.4 million in wagers, with a 6.32% hold. Both operators continue to be important mid-tier players, though their growth appears more incremental in contrast to the leading platforms.

Rush Street Interactive (RSI), operating under the BetRivers brand, pulled in $3.4 million in revenue on a $43.2 million handle, producing a 7.87% hold. Meanwhile, ESPN Bet, backed by Penn Entertainment, reported $3 million in revenue from $56 million in wagers, with a more modest 5.36% hold. The brand remains a work-in-progress as it aims to leverage ESPN’s media footprint to gain broader traction.

Smaller operators faced a tougher environment. Resorts World Bet brought in $769,845 from $9.9 million in wagers, while Bally Bet reported $489,091 from $11.1 million, corresponding to holds of 7.81% and 4.39%, respectively. These results reflect the ongoing challenge for smaller brands trying to maintain relevance in a high-cost, high-competition market dominated by well-capitalized giants.

April’s data highlights the maturing nature of New York’s sports betting industry. While seasonal dips in handle are expected, the simultaneous rise in revenue points to improved efficiency and possibly reduced promotional spend by operators. With fewer major sports events in April compared to March, a higher hold rate suggests less aggressive marketing and better retention of player losses—key components for long-term profitability.

 

New York’s market is proving it can generate strong revenue even in slower sports months.

 

The Future

Looking ahead, the market will enter a relatively quiet stretch in the sports calendar until the NFL and college football seasons resume in late summer. However, events such as the NBA and NHL playoffs, along with global soccer tournaments, could provide continued engagement for bettors.

As operators continue to vie for market share and optimize their operations, the dynamics between FanDuel, DraftKings, and rising contenders like Fanatics will remain a central storyline. Meanwhile, policymakers are likely to keep a close eye on revenue and tax data as they consider the long-term role of sports betting in the state’s fiscal planning.