New York’s sports betting market delivered one of its strongest performances on record in December, as sportsbook operators generated $259.7 million in gross gaming revenue, according to newly released figures from the New York State Gaming Commission. The result represented a 72.7% increase compared with December 2024 and ranked as the second-highest monthly revenue total since the state launched regulated mobile wagering, trailing only November 2025’s record-setting $280.6 million. The December performance further confirmed New York’s position as the largest regulated sports betting market in the United States, driven by both sustained player engagement and improved operator efficiency.

The Developments

Although revenue remained near record levels, total player spending showed signs of normalization following an unusually strong autumn. Online handle for December reached $2.38 billion, marking a 4.4% year-on-year increase, but falling 8.6% from November’s $2.61 billion and 9.6% below October’s all-time record of $2.64 billion. Even with the sequential decline in wagering volume, sportsbooks converted bets at an elevated rate, producing a 10.9% statewide online hold, a level that reflects disciplined promotional strategies and improved pricing across major operators.

Market leadership remained firmly in the hands of FanDuel, the Flutter Entertainment-owned operator that once again outpaced its rivals by a wide margin. FanDuel reported $120.1 million in December revenue from $853.6 million in handle, resulting in a 14.07% hold. The figure marked FanDuel’s second-highest revenue month in New York, following two consecutive months in which its handle exceeded $1 billion. The company’s ability to sustain both volume and margin continued to separate it from the rest of the field, reinforcing its long-standing position as the market’s dominant force.

DraftKings remained FanDuel’s nearest competitor, posting $84.1 million in revenue on $801.6 million in wagers, for a 10.49% hold. While the gap between the two market leaders remained significant, DraftKings continued to capture a substantial share of total wagering activity. Fanatics held third place with $18.7 million in revenue from $205.5 million in handle, equating to a 9.1% hold, as the operator further solidified its role as the leading challenger to the established duopoly.

Performance among mid-tier operators was more mixed. Caesars generated $14.7 million in revenue from $152.8 million in bets, delivering a 9.62% hold that placed it among the more efficient operators for the month. BetMGM, despite recording a record $259.1 million handle, reported $13.2 million in revenue, with its 5.09% hold reflecting lower conversion compared with most major competitors. The contrast between BetMGM’s high betting volume and relatively modest revenue underscored the competitive pressures and promotional dynamics still shaping the middle of the market.

 

While handle eased from record levels, revenue performance in December underscores the durability of operator margins in New York.

The Future

Smaller operators continued to struggle for meaningful share. theScore Bet, previously branded as ESPN Bet, posted $3.6 million in revenue from $42.6 million in wagers, producing an 8.45% hold. Bally Bet followed with $1.2 million in revenue from $13.2 million in handle, leaving a minimal 0.09% hold, one of the weakest performances reported in December. Resorts World Bet rounded out the field, generating $229,357 in revenue from $2.8 million in bets, with an 8.33% hold, as the operator remained a marginal participant in the state’s highly concentrated market.

December’s results capped another year of sustained expansion for New York’s regulated sports betting industry. While wagering activity retreated slightly from the exceptional levels seen in October and November, the market’s ability to deliver near-record revenue reflected growing structural maturity, disciplined operator behavior, and continued consumer engagement. With the leading operators maintaining firm control and competitive pressures intensifying among the rest of the field, New York’s market entered 2026 in a position of exceptional scale and stability.