New York online sports betting tops $2.15 billion in April, FanDuel leads market gains

New York’s online sports betting market saw a notable boost in April, with the New York Gaming Commission reporting a $2.15 billion handle, the highest ever for the month since mobile wagering launched in 2022. It marks the seventh time in the past eight months that the Empire State’s monthly handle has surpassed the $2 billion mark.

Gross gaming revenue reached $192.7 million, a 4.8% increase over April 2024 and the second-highest total so far in 2025, trailing only January’s $257 million. The hold rate across all operators came in at 8.9%, slightly lower than April 2024’s 9.3% and the second-lowest mark for the current year.

April brought a reversal of fortune for sportsbooks after a challenging March, when a relatively upset-free NCAA tournament favored bettors and suppressed operator profits. This time, events like the NFL Draft and early rounds of the NBA and NHL playoffs helped sportsbooks rebound, driving a 19% increase in revenue from March’s $161.8 million.

The state collected $98.3 million in taxes from mobile operators in April, benefiting from New York’s 51% tax rate on gross gaming revenue. That figure is up from $82.5 million in March.

FanDuel led all operators with an $822.5 million handle and $84.8 million in revenue, up from the $62.6 million it generated the previous month. April marked the sixth time in seven months that FanDuel surpassed $800 million in handle. DraftKings followed with a $727.3 million handle and $66.8 million in revenue, buoyed by a 9.2% hold.

Fanatics Sportsbook recorded $175.6 million in wagers, the third-highest among New York operators. Its $12.5 million in revenue was slightly down compared to March. BetMGM and Caesars both brought in over $150 million in handle but reported lower-than-average hold percentages, limiting their revenue to $11.2 million and $9.7 million, respectively.

ESPN BET reported $56 million in wagers and $3 million in revenue for April, its second-highest handle since entering the market in late September 2024. The platform surpassed BetRivers to claim the sixth spot among operators.

Weekly data from the commission showed that the week ending May 4 brought in a $480.2 million handle, down nearly 9% from the previous week. It was only the third week in the last ten to post under $500 million. However, a strong 10.8% hold led to $51.9 million in gross revenue, only slightly below the previous week’s $56.8 million despite lower betting volume.

FanDuel once again led the week, bringing in $26.2 million from a $180.6 million handle. Caesars was the only other operator to post a week-over-week profit increase. DraftKings recorded the second-highest handle at $163.9 million, though its revenue declined by nearly $5 million compared to the prior week.