The lucrative Empire State set a new gross revenue record in November behind record monthly profits from FanDuel and DraftKings, the two biggest sports betting operators in the United States.
Key Takeaways
- New York surpassed the previous revenue record by more than $31 million.
- November’s handle reached $2.6 billion for the second consecutive month.
- FanDuel, DraftKings, and Fanatics all set monthly profit highs in the state.
A 10.7% hold on a $2.61-billion handle produced a combined $280.5 million for operators, blazing past the previous record set in May by more than $31 million, according to the New York Gaming Commission’s report released Thursday. FanDuel and DraftKings both set new monthly revenue highs and accounted for 78.8% of the total operator profits in November.
Gross revenue rose 20.8% year-over-year from a handle that spiked 15%. In a month with NFL, NBA, NHL, college football, and college basketball, plus a major holiday, November’s handle missed out on matching October’s all-time wagering mark by $36 million.
The hold was up half a percent from the previous November and was the fourth-highest win rate produced in 2025 by New York online sports betting.
The Empire State filled its coffers with a record $143 million, increasing the year-to-date tax revenue haul to over $1.19 billion from a 51% rate on operator revenue.
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Dominance at the top
| Online Operator | November Handle | Revenue |
|---|---|---|
| FanDuel | $1 billion | $131.9 million |
| DraftKings | $916.3 million | $89.1 million |
| Fanatics Sportsbook | $209.1 million | $22.9 million |
| Caesars | $186.2 million | $14 million |
| BetMGM | $171.6 million | $13.5 million |
FanDuel continued to dominate New York bettors behind a 13.1% hold and set the all-time revenue record by a single operator with $131.9 million in November, a 28.5% year-over-year increase. The online sportsbook surpassed the previous record of January by $20 million and made $31 million more in November than in October. FanDuel generated a $1-billion handle for a second consecutive month.
DraftKings’ new high of $89.1 million came on a handle of $916.3 million. Fanatics Sportsbook hauled in $22.9 million in gross revenue, its highest monthly profit since launching in New York in February 2024. November also marked the fourth consecutive month that Fanatics has accepted at least $200 million in wagers.
Caesars beat out BetMGM for fourth place, generating $186.2 million in handle that led to $14 million in gross revenue. BetMGM made nearly $1 million less in profits compared to October on a handle that fell 8.4% month-over-month.
Before it makes the transition to theScore Bet on Monday, ESPN BET generated $3.9 million in gross revenue from a $56.5-million handle in November. BetRivers saw a $3-million handle decrease from October.
Big hold week
Thanksgiving and a heavy NFL presence sparked a massive increase in New York’s weekly handle. Wagering spiked 18.6% week-over-week to reach $637.5 million during the period ending Nov. 30.
The handle went over $600 million for the first time in three weeks but the fourth time in the last six periods. A big week for NFL underdogs, with all three winning on Thanksgiving, helped sportsbooks produce an 11.4% hold. The $72.5 million in gross revenue is the highest since the week ending Nov. 2.
FanDuel led the way with a massive $246.8-million handle that was up 18% from the previous week. DraftKings’ $217.4 million in wagers rose an even higher 20.2%. The two online operators combined to produce $57.9 million, nearly 80% of the all sportsbook revenue for the week.
