New York Sets New Online Sports Betting Revenue Record

New York set a new benchmark for online sports betting gross gaming revenue (GGR) in May 2025, reporting $248.9 million in earnings, according to the latest data from the New York State Gaming Commission. This figure slightly surpasses the previous record of $247 million established in January, representing a 0.8% month-over-month increase.

The record GGR came even as the state’s total betting handle — the amount wagered by bettors — fell to $2.21 billion in May, down 10.8% from January’s $2.48 billion. However, the decline did not signal weakening interest in the market. Year-on-year, the handle rose by 12.1% compared to the $1.97 billion reported in May 2024.

The Numbers:

Metric	May 2025	Change vs Jan 2025	Change vs May 2024
Gross Gaming Revenue (GGR)	$248.9 million	+0.8%	+22.4%
Total Handle	$2.21 billion	-10.8%	+12.1%
Education Funding	$126.9 million	+22.4%	+22.4%
Platform Provider Share	$122 million	+29.6% (vs Apr)	N/A

The significant 22.4% increase in GGR from May 2024’s $203.3 million indicates a stronger hold rate for operators, suggesting that sportsbooks retained a larger share of the money wagered. The increase also translated directly into higher contributions to public funds. A total of $126.9 million was directed to New York’s education fund in May, reflecting the same 22.4% year-on-year rise.

Since the legalization of mobile sports betting in January 2022, New York has generated over $6.5 billion in GGR and more than $3.2 billion in tax revenue earmarked for education. The state’s unique 51% tax rate on GGR ensures that a substantial portion of sportsbook revenue flows into public coffers.

Platform providers collectively took home $122 million in May, nearly $28 million more than the $94.4 million reported in April. That uptick suggests improved performance across operators, likely bolstered by events on the sports calendar and refined promotional strategies.

The new record follows a strong April performance, when GGR hit $192.7 million — a 4.8% increase year-over-year — on a $2.13 billion handle. FanDuel and DraftKings remained the dominant forces in the market that month, together accounting for the majority of both handle and GGR.

 

A record month for revenue, even with a lower handle, highlights the strength of operator margins in New York’s maturing market.

 

The Future

The latest numbers arrive amid ongoing legislative discussions surrounding consumer protection in online betting. A proposal introduced in April seeks to impose new restrictions on deposit limits and prohibit credit card use for mobile betting. The bill remains under review, and it has prompted debate among stakeholders about balancing market growth with responsible gambling measures.

While May’s data reflect a maturing yet highly profitable market, questions remain about the sustainability of current win rates and the potential impact of future regulatory changes. With the football season still months away, industry observers will be watching closely to see how summer betting trends evolve — and whether May’s revenue milestone can be matched or surpassed in the coming months.