January officially became the biggest online sports betting month in New York history as five sportsbooks set handle records during a staggeringly strong stretch.
Behind the NFL playoffs and part of college football’s postseason, the Empire State’s nine online sportsbooks combined to generate a record $2.48 billion handle and an all-time gross-revenue monthly national high of $247 million, according the New York Gaming Commission’s report.
January’s amount wagered increased by 26.8% from the same month in 2024 and surpassed the previous handle record of $2.32 billion set in October 2024. New York extended its record run of $2 billion handles to five consecutive months.
January revenue spiked 16.8% year-over-year and beat out November 2024’s $231.6 million for the highest monthly profit of all time.
Behind a 51% tax rate, the Empire State filled its coffers with a staggering $149 million. This included a $23 million adjustment by BetMGM.
Making up for lost revenue
New York’s record-setting month wasn’t just a great start to 2025. It also made up for a poor finish in 2024.
The latest reported month’s gross revenue increased 64.3% from December’s $150.3 million haul. A 9.9% hold in January was up from the previous month’s 6.6%, the lowest win rate recorded in 2024.
Despite customer-friendly outcomes in October and December, New York sports betting operators still claimed more than $1 billion in gross revenue from September through January, the bulk of football season. The same period during the previous year produced $882 million in revenue.
Operators thrive
| Operator | January Handle | Revenue |
|---|---|---|
| FanDuel | $965.1 million | $111.3 million |
| DraftKings | $837.9 million | $82 million |
| BetMGM | $194.8 million | $14.8 million |
| Fanatics Sportsbook | $194.1 million | $15.1 million |
| Caesars | $163.2 million | $15.8 million |
| ESPN BET | $59.2 million | $2.4 million |
FanDuel’s $965.1 million in wagers and gross revenue of $111.3 million is the highest ever in New York. The online operator also made it four consecutive months with $900 million handles.
DraftKings also set a new mark with $837.9-million handle in January. The $82 million in profits which were up 76% month-over-month. BetMGM edged Fanatics Sportsbook by $7 million for third in terms of handle, but both took in more than record-setting $194 million in wagers during January. Fanatics had a slightly higher hold to bring in $15.1 million in revenue.
Caesars had the best win rate of the bunch to generate $15.8 million on a $163.2-million handle. ESPN BET cracked the top six with its best month of wagering since launching in late September. The PENN Entertainment platform generated $59.2 million, but a 4% hold led to just $2.4 million in revenue.
BetRivers produced an 8.1% hold on $48.2 million in wagers to haul in $3.9 million during January.
Playoff success
New York’s operators are currently on a run of $500 million weekly handles that began before Christmas. The week of New Year’s led to a record $600 million in wagers.
January also produced the first back-to-back weeks with $60 million in revenue during the NFL playoffs, and sportsbooks made $68.3 million on a $593.7-million handle during the Divisional Round.
The most lucrative sports betting market in the U.S. is off to a strong start in February, hauling in $56 million in gross revenue during the week of no football leading up to Super Bowl LIX. Based on how Sunday’s Big Game went for operators, big numbers in New York will likely continue for another month.
