Online sports betting operators recorded one of their most profitable non-football months ever in the most lucrative U.S. state.
Key Takeaways
- Operators stay hot all April, especially FanDuel.
- New Yorkers keep the $2-billion handle streak alive.
- Weekly profits took a dip to start May.
The New York State Gaming Commission reported on Friday that the market’s eight mobile sportsbooks produced $244.1 million in gross revenue during April. The Empire State recording $200 million in months with the NFL is fairly common but quite rare during the spring and summer.
The $248.9 million from May 2025 ranks as the only non-football month with more profit since online wagering began in 2022.
Operators hauled in over $50 million in gross revenue in each of the last four reported weeks, producing a 26.7% year-over-year profit from a $2.16-billion handle that was just 0.5% higher than April 2025. Combined with the $217.3 million made during March Madness, online sportsbooks have generated $461.4 million in New York revenue over the last two months, $106.9 million ahead of the same period last year.
Sportsbooks hammered bettors during a period that includes the Final Four and the beginning of the NBA and NHL playoffs, as well as the first full month of MLB and the Masters. The 11.3% hold is the highest produced in 2026 and up from last April’s 9% win rate. It’s also the best operator hold since May 2025.
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Handle stays high
New York online sports betting produced a $2-billion handle for the eighth consecutive month and just barely surpassed last April’s $2.15 billion in wagers. New Yorkers have bet less than $2 billion in just three of the last 19 months.
The state received a $124.5-million cut from the 51% tax rate on online sportsbooks. The year-to-date tax total surpassed $452 million, nearly 7% more than the first four months of 2025.
FanDuel posts impressive hold
| Online Operator | April Handle | Revenue |
|---|---|---|
| FanDuel | $811.1 million | $101.2 million |
| DraftKings | $771.6 million | $80.7 million |
| Fanatics Sportsbook | $262 million | $23.5 million |
| BetMGM | $157.5 million | $15.8 million |
| Caesars | $139.1 million | $13.7 million |
FanDuel destroyed bettors in April to the tune of a 12.5% hold, winning $101.2 million on an $811.1-million handle. It’s the second time this year that the online operator reached $100 million in gross revenue.
DraftKings wasn’t far behind with a handle of $771.6 million, and the sportsbook held its own with a 10.5% win rate to take in $80.7 million in gross revenue. Fanatics produced a 9% hold on $262 million in wagers.
BetMGM had its most profitable month ever in New York, winning back $15.8 million on a $157.5-million handle, while Caesars’ 9.8% hold came on over $139 million in wagers. BetRivers enjoyed an 11.3% hold on a $41.8-million handle, and while theScore Bet generated $3.5 million more in wagers, the operator only won back 6.6%. Bally Bet held onto 8.3% of a $1.3-million handle.
Weekly profit streak ends
New York online sportsbooks’ run of $50-million profit weeks came to an end in the week ending May 3. Operators produced $45.7 million in gross revenue, a 22.8% week-over-week decrease.
The latest period’s handle of $493.6 million also dipped 7.8% from the previous week. FanDuel turned in a 12% hold on a $176.6-million handle during the week ending May 3. No other operator was able to post a double-digit win rate.
