New York’s mobile sports wagers hit $2.64 billion in October, setting new U.S. monthly record

New York’s mobile sports betting market soared to a new high in October, recording $2.64 billion in wagers and once again leading the nation in online betting activity, according to figures released Thursday by the New York State Gaming Commission (NYSGC).

The October handle surpassed the previous U.S. record of $2.49 billion set by New York in January, marking the third consecutive month in which the state’s eight mobile operators collectively handled more than $2 billion in bets. It was also the 14th month overall that the total exceeded that threshold since mobile wagering began in January 2022.

Mobile betting volumes were up 13.9% year-on-year, bolstered by two exceptionally strong weeks that ended on October 26 and November 2, both topping $650 million. The weeks ending October 5 and October 19 also entered the all-time top ten, generating $591.7 million and $564.3 million, respectively.

Operators posted a collective hold exceeding 9%, translating into $238.7 million in revenue for the month, a 35.4% increase from October 2024 as average win rates climbed 1.4 percentage points. The results pushed 2025 year-to-date operator revenue past $2 billion, placing it within $36 million of last year’s full-year total, while all-time mobile winnings since launch crossed the $7.1 billion mark.

The state reaped $121.8 million in tax receipts from mobile wagering in October, its third-highest monthly collection to date. That brought total 2025 tax inflows to nearly $1.05 billion, already exceeding the 2024 record by $5.5 million with two months left in the year.

FanDuel continued to dominate the market, becoming the first operator in New York to exceed $1 billion in monthly handle. Its $1.006 billion total narrowly edged its previous record of $965.1 million in January. FanDuel’s market share rose from 34.5% in September to 38.1%, though it slipped one percentage point from October 2024 levels.

The operator also posted strong profitability, holding 10% of wagers for $100.6 million in revenue, a 30.1% year-over-year increase. It was the third nine-figure revenue month of 2025 for FanDuel and the fourth in the past 12 months.

The data arrived on the same day Penn Entertainment and ESPN Bet announced the termination of their $2 billion partnership after just two years, a move partly attributed to the brand’s inability to establish a foothold in major markets like New York.

Even with a record $60.3 million handle in October, ESPN Bet represented only 2.3% of statewide mobile wagers. The operator never achieved a 3% market share in any month since its New York launch in September 2024.

Despite a 47.7% annual rise in handle, a weak 6% win rate limited October revenue to $3.4 million, just a 5.3% increase from last year. Without a strong November, ESPN Bet will likely leave New York with less than $50 million in total revenue since entering the state.

DraftKings also reached a personal best, reporting $938 million in wagers for October, up 15.3% from last year, and expanding its market share slightly to 35.5%. The company’s $82.9 million in revenue reflected a 40.8% year-over-year increase, supported by an 8.8% hold rate, 1.6 points higher than in 2024.

Fanatics recorded $205.7 million in wagers for the month, down from August’s “whale play” peak but still a 15.3% increase from a year earlier. Its market share slipped to 7.8%, the lowest in 2025, though revenue jumped 50.8% to $18.7 million as its 9.1% hold improved more than two percentage points.

BetMGM recaptured a 7% share of the handle for the first time since July, with $187.5 million in accepted bets, its second-best month ever after January’s $194.8 million. The operator’s 7.7% hold delivered $14.4 million in revenue, up 51.5% from last year.

Caesars followed closely with $175.8 million in handle and $13.2 million in revenue, gaining 13.4% in volume and 21.3% in winnings year-over-year thanks to a 7.5% win rate.

BetRivers rounded out the performers, achieving its strongest month in nearly two years with $4.4 million in revenue from an $53 million handle. Its 8.3% hold marked the operator’s second time surpassing $4 million in 2025 and its highest return since November 2023.