New York Online Sports Betting Revenue Drops Sharply in May

New York’s mobile sportsbooks reported $204.2 million in gross gaming revenue for May, marking an 18% decline compared with the same month last year, according to figures released by the State Gaming Commission.

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The drop was driven less by betting volume and more by hold. Players wagered $2.13 billion across eight operators, only slightly below the $2.21 billion recorded in May 2025. What changed was the win rate: sportsbooks held 9.6 % of wagers this May, down from 11.3 % a year earlier. 

The state collected $104.1 million in tax receipts for the month, the second of New York’s 2026–2027 fiscal year.

FanDuel leads the way

FanDuel stayed on top of New York’s sports betting market in May, handling $767.8 million and producing $88.7 million in revenue at an 11.6% hold. Both figures were lower than last year, with revenue down nearly 19% and handle off about 4%. 

DraftKings followed closely, taking $706.5 million in bets and $66.5 million in revenue at a 9.4% hold, but its year‑over‑year declines were steeper, with revenue falling 21% and handle dropping 10%.

BetMGM also grew its handle slightly to $166.2 million, though revenue slipped nearly 9 % to $13.4 million. Caesars saw the sharpest decline, with wagers down 6.5 % to $142.4 million and revenue plunging almost 29 % to $9.8 million.

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Fanatics stood out as one of the few operators to post gains. The sportsbook’s handle jumped more than 30 % to $249 million, while revenue edged up 1.8 % to $18.3 million on a 7.3 % hold.

Smaller operators also felt the pressure. BetRivers reported $44.1 million in handle and $3.1 million in revenue, a drop of nearly 25 %. Penn Interactive’s theScore Bet booked $42.6 million in wagers and $3.2 million in revenue, both down from what ESPN Bet recorded a year earlier.

Bally Bet, however, posted its strongest May yet, with handle up 17 % to $14.1 million and revenue surging 77 % to $1.1 million.

Together, FanDuel and DraftKings accounted for about 69 % of all wagers placed in May. Six of the eight operators reported lower revenue than last year, leaving Fanatics and Bally Bet as the only ones to grow. Overall, New York’s mobile sports betting handle has now crossed $95 billion since launch.

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Source: InGame