New York Sports Betting Handle Hits 12-Month Low

Consumer spending on online sports betting in New York fell sharply in July, marking the state’s lowest monthly total since the same month last year. While the downturn was notable in month-over-month terms, the figures also reflected a market that continues to expand year-on-year. Data from the New York State Gaming Commission showed that players wagered $1.4 billion in July, down 15.2% from June’s $1.65 billion and representing a significant summer slowdown. This was the smallest handle since July 2024, when bettors placed $1.27 billion in wagers.

Despite the weaker month-to-month performance, July’s handle was still marginally higher than the same month last year, signaling that the state’s sports betting market remains on an upward trajectory when viewed in a longer-term context. Gross gaming revenue for the month came in at $155.8 million, an increase of 10.6% over July 2024. However, the total was 24.8% lower than June’s revenue, reflecting the sharp drop in betting activity. The monthly hold — the proportion of wagers operators keep after paying out winnings — stood at 11.1%, consistent with typical summer betting trends.

 

FanDuel Retains Revenue Lead, DraftKings Tops Handle

Among individual operators, Flutter-owned FanDuel continued to dominate in terms of revenue, generating $61.4 million from $476.9 million in wagers. This gave the operator a hold of 12.87%, well above the market average. Rival DraftKings, which has long vied with FanDuel for the top position, recorded the largest handle in the state at $509.4 million. However, its hold was slightly lower at 10.31%, resulting in $52.5 million in revenue for the month.

Fanatics secured third place with $13.9 million in revenue from $137.7 million wagered, translating to a 10.09% hold. BetMGM followed with $10 million in revenue from $98.1 million in bets, achieving a 10.19% hold. Caesars rounded out the top five operators, reporting $9.7 million from $97.9 million wagered, for a 9.91% hold. The gap between the top two operators and the rest of the market remained significant, underscoring the concentration of player spending among leading brands.

Outside the top five, ESPN Bet recorded $3.9 million in revenue from a $37.1 million handle, producing a 10.51% hold. Rush Street Interactive was the only other operator to exceed $1 million in monthly revenue, posting $3.4 million from $35 million in wagers, for a hold of 9.71%. Bally Bet generated $865,910 from $9.2 million wagered, achieving a 9.4% hold. Resorts World placed last with $229,357 in revenue from a $2.8 million handle, reflecting the lowest hold of the group at 8.33%.

 

Seasonal Slowdown Meets Competitive Market

Industry analysts point to a seasonal slowdown as the primary factor behind July’s dip in wagering activity. With major U.S. sports leagues in their off-season or operating on reduced schedules, sports betting volumes tend to decline during the summer months. The drop in handle from June to July was consistent with this pattern, though the scale of the month-over-month decline highlights the importance of high-profile sporting events in sustaining betting levels.

 

July’s slowdown reflects the seasonal dip in betting activity, but year-on-year growth shows New York’s market remains resilient.

 

Outlook

Despite the short-term dip, New York’s ability to report year-on-year growth in both handle and revenue suggests that the market is still maturing and attracting new players. Since launching legal online sports betting in January 2022, the Empire State has consistently ranked among the top betting markets in the United States, driven by strong competition among operators and aggressive promotional strategies.

Looking ahead, industry observers expect August’s figures to remain relatively subdued before a likely surge in September, when the NFL season begins. The return of professional football is widely viewed as the single most important driver of sports betting activity in the U.S., and operators are expected to ramp up marketing efforts to capture player interest ahead of kickoff. If historical patterns hold, New York’s betting handle could see a rapid rebound as the fall sports calendar fills up, potentially setting new monthly records in the final quarter of the year.