New York Sports Betting Surpasses $400M Handle for 26th Straight Week

Top Operator Performance

FanDuel led the market with a handle of $166.4 million. The sportsbook generated $19.5 million in revenue and maintained an 11.7% hold rate. DraftKings followed closely, recording $144.3 million in wagers and $17.8 million in revenue. With a hold of 12.3%, it had the highest retention rate among operators.

BetMGM secured third place in revenue with $3.1 million from a $28.3 million handle and an 11% hold rate. Fanatics Sportsbook reported $36.9 million in wagers, ranking third in total handle, but generated only $2.8 million in revenue due to a lower 7.6% hold rate.

Caesars Sportsbook processed $27 million in bets. Meanwhile, BetRivers and ESPN BET posted $8.7 million and $8.6 million, respectively. ESPN BET earned $841,000 in revenue with a 9.8% hold. Smaller operators like Bally Bet and Resorts World Bet showed growth compared to the previous week.

New York’s sports betting market remains a national leader. In January 2025, the state hit a record $2.48 billion in total wagers and $247 million in revenue, proving its sustained momentum.

New Bill Could Expand Market and Lower Taxes

At a time when many states are introducing bills to restrict sports betting, raise taxes, or limit advertising, a new proposal in New York takes a different approach.

The bill, introduced by Assemblymember Carrie Woerner, aims to make one of the largest, but also one of the most challenging, sports betting markets in the U.S. more welcoming for operators.

Legislation S 6013 seeks to expand the number of licensed sportsbooks while lowering tax rates. It mandates that New York must have at least 14 operators by January 31, 2026, increasing to 16 by January 31, 2027.

The bill also introduces a tiered tax structure. With 15 or more operators in the market, the tax rate would drop from the current 51% to 25%, making the state far more competitive.