New York Sports Betting Shatters Records in January with $2.48 Billion in Wagers
New York’s sports betting industry kicked off 2025 with record-breaking numbers, setting new all-time highs for both wagering volume and revenue.
Revenue Hits New Highs, State Tax Revenue Surges
In January, bettors placed $2.48 billion in wagers, the highest single-month total in U.S. history. This figure exceeded the previous record of $2.32 billion from October 2024, marking a 6.9% increase month-over-month and a 26.8% rise year-over-year.
Along with record handle, sportsbooks in New York also saw unprecedented revenue growth. Gross gaming revenue (GGR) climbed to $247 million, 6.7% higher than the previous record of $231.6 million set in November 2024. This represented a 16.8% increase compared to January 2024.
The state’s 51% tax rate on sportsbook revenue generated $149 million in tax contributions, reinforcing New York’s position as the nation’s most lucrative sports betting market.
FanDuel and DraftKings Lead the Market
FanDuel dominated once again, handling $965.1 million in bets and earning $111.3 million in revenue. This marked the highest single-month revenue ever recorded by a sportsbook in New York.
DraftKings followed closely behind, processing $837.9 million in wagers and generating $82 million in revenue. This set a new company record for revenue in the state.
Other key performances included:
- BetMGM: $194.8 million in handle, $14.8 million in revenue
- Fanatics Sportsbook: $194.1 million in handle, $15.1 million in revenue
- Caesars: $163.2 million in handle, $15.8 million in revenue
- ESPN Bet: $59.2 million in handle, $2.4 million in revenue
- BetRivers: $48.2 million in handle, $3.9 million in revenue
Notably, five of the nine online sportsbooks in New York set new records for monthly handle in January.
College Football Playoff and NFL Playoffs Drive Betting Boom
Several factors fueled January’s explosive growth. The expansion of the College Football Playoff (CFP) to 12 teamsbrought higher betting volumes, while the NFL playoffs generated a surge in wagers.
New York sportsbooks continued their streak of surpassing $500 million in weekly handle, which began in December. The first week of January alone produced $600 million in bets, setting a new seven-day state record.
During the NFL playoffs, sportsbooks reported $68.3 million in revenue from $593.7 million in wagers, demonstrating how major sporting events fuel strong betting activity.
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