Better Super Bowl results for online sports betting operators in 2025 led to significant increases in New York compared to 2024.
The New York Gaming Commission reported a February handle of $1.97 billion, a 10.6% year-over-year rise, while the nine mobile sportsbooks claimed $184.8 million in gross revenue, up 40.7% from the same month in 2024.
Including futures bets, New York legal online sportsbooks hauled in $47 million from nearly $155 million in wagers on Super Bowl LIX.
In the previous February, no sportsbook recorded a double-digit hold for the month, but this year, the combined win rate reached 9.4%, two points higher than in 2024.
The Empire State collected $94.2 million in tax revenue, bringing 2025’s two-month total to over $243 million. That’s nearly $70 million more in the coffers than this time last year.
Monthly action falls
New York operators got a little taste of life without football in February. With just one NFL game, the handle dipped 21% month-over-month. That’s higher than the 10% drop felt from January 2024 to February 2024.
February revenue fell 25.5% from the previous month while the hold fell slightly from the 10% produced in January. Still, $3.8 billion has been wagered in the most lucrative U.S. market in the last two months, the best start New York operators have seen to begin a year.
FanDuel takes top spot
| Online Operator | February Handle | Revenue |
|---|---|---|
| FanDuel | $738.5 million | $92.6 million |
| DraftKings | $717.4 million | $51.6 million |
| Fanatics Sportsbook | $160.5 million | $11 million |
| BetMGM | $130.2 million | $11.8 million |
| Caesars | $128.6 million | $10 million |
| ESPN BET | $43.3 million | $3.8 million |
FanDuel led all operators with a $738.5 million handle, down from January’s record of $965.1 million. However, an improved hold of 12.5% produced $92.6 million in gross revenue to put FanDuel over $200 million in profits to start 2025.
DraftKings finished a close second with $717.4 million in wagers, but bettors had more success against this online operator, lowering their win rate to 7.2% and a $51.6 million in gross revenue.
Fanatics Sportsbook took home third place with $160.5 million. BetMGM, which lost nearly $5 million in February 2024, hauled in $11.8 million in revenue, more than Fanatics on a $130.2 million handle. Caesars rounded out the top five with $128.6 million wagers and was the only other operator to reach $10 million in profits.
ESPN BET remained ahead of BetRivers in handle for the third consecutive month and made $1 million more in gross revenue.
Nice start to March
The first full week of March generated a 2.2% week-over-week increase in action. The nine online operators reported a $562.2 million handle during the week ending March 9.
Wagering has eclipsed $500 million in 10 out of the last 12 weeks in New York. With March Madness underway, that trend could continue for the rest of the month.
Bettors had a rougher week than the previous one. Sportsbooks made $41.5 million, up from $26.4 million, and produced a 7.4% hold, nearly three points higher.
Five operators saw a week-over-week handle increase, but those who didn’t weren’t off by much. DraftKings led all sportsbooks with a $239.4 million handle while FanDuel’s action reached $182.5 million. Unlike the previous week, DraftKings also had the highest gross revenue with a $16.2 million haul.
