Online sports betting in New York hit $26.3 billion in wagers in 2025, up 15.8% from 2024 — the state’s largest single-year increase.
Gross revenue for the year totaled $2.55 billion, up 25% from 2024, while the statewide hold rate rose to 9.7%, compared with 9% the previous year.
Industry leaders FanDuel and DraftKings dominated the market, accounting for 76% of all operator revenue. The booming sector generated $1.32 billion in tax revenue for New York.
The year ended on a high note, as December became the second most profitable month in New York online sports betting history, only behind November 2025. The New York State Gaming Commission reported Thursday that the state’s eight mobile sportsbooks generated $259.7 million in revenue, a 72.7% increase from December 2024. December also marked the third consecutive month with gross revenue above $200 million — the longest streak to date.
Wagers totaled $2.38 billion for the month, a 4.3% increase from December 2024, and the fifth straight month surpassing the $2 billion mark. Mobile sportsbooks achieved a 10.9% hold rate, up significantly from 6.6% the previous December, resulting in $132.4 million in tax revenue. Over the past three months alone, New York has collected more than $397 million in taxes.
FanDuel continued to lead the market, earning $120.1 million in December and closing 2025 with over $1.1 billion in total revenue. DraftKings accepted more than $800 million in wagers in December, generating $84 million in revenue — its third-highest monthly total of the year.
BetMGM saw a 50% increase in monthly wagers to $259.1 million but recorded only a 5% hold. Fanatics, Caesars, BetRivers, and Bally Bet all posted gains from November, though only Fanatics exceeded a 9% hold.
Meanwhile, TheScore Bet made its New York debut following PENN Entertainment’s transition from the ESPN BET platform, earning $3.6 million on $42.5 million in wagers, down from November and December 2024 levels.
New York opened 2026 with another strong revenue surge, as sportsbooks earned more than $70 million during the first week of January. The end of the NFL regular season and college football bowl games drove the gains, marking the fifth straight week of elevated profits.
Regulatory changes could impact the market in 2026. Lawmakers have refiled a bill to ban live wagering and are reviewing prediction market platforms such as Kalshi and Polymarket that offer sports-related event contracts.
Original article: https://www.yogonet.com/international/news/2026/01/12/117074-new-york-online-sports-betting-hits-record-263-billion-handle-in-2025
