New York’s sports betting handle spiked 10.7% in July compared to the same month in 2024.
Key takeaways
- New York sportsbooks generated 10.5% more gross revenue in July than the previous year.
- The 11.1% hold matched July 2024’s win rate and was the third highest in 2025.
- FanDuel’s handle fell below $500 million for the first time this year, but the online operator enjoyed a healthy 12.8% hold.
The New York Gaming Commission reported Friday that Empire State bettors wagered $1.4 billion to kick off 2025's second half, up from July 2024's $1.26 billion handle. However, the latest month’s handle was the first under $1.5 billion since last August.
Sportsbooks generated $155.6 million in gross revenue, a 10.5% year-over-year increase but a 24.9% month-over-month dropoff. It’s the first monthly profit below $160 million year-to-date and the lowest since December 2024’s $150.1 million.
Despite lower profits, New York online operators still turned an 11.1% hold, equal to July 2024 and the third highest this year.
Not so bad
Without the NBA and just one NFL preseason game to entice bettors, the summer lull made July seem worse than it was for books. DraftKings CEO Jason Robins said during Thursday’s quarterly earnings call the online operator saw a 10% year-over-year increase in MLB action in July.
With the All-Star break producing the slowest action week in nearly a year, New York sportsbooks couldn't take advantage of the high win rate. However, Empire State online operators were coming off a stellar May-June run that produced back-to-back $200 million gross revenue hauls for the first time since the U.S.' most lucrative market launched in January 2022.
New York filled its coffers with $79.3 million in July, an almost $30 million month-over-month drop, but the state’s tax revenue still surpassed $700 million for the year.
Big hold
| Online Operator | July Handle | Revenue |
|---|---|---|
| DraftKings | $509.3 million | $52.5 million |
| FanDuel | $476.9 million | $61.3 million |
| Fanatics Sportsbook | $137.7 million | $13.9 million |
| BetMGM | $98.1 million | $10 million |
| Caesars | $97.9 million | $9.7 million |
| ESPN BET | $37.1 million | $3.9 million |
DraftKings was the only operator to reach $500 million in wagers during July, completing a full-year cycle with handles above that mark each month. FanDuel fell short with a $476.9 million handle, the online operator’s first under $500 million since July 2024. However, FD’s healthy 12.8% hold produced $61.3 million in gross revenue, $8.8 million more than DKs’ July profit haul.
Fanatics Sportsbook surpassed $100 million in wagers for the 11th consecutive month and turned the third-best profit of $13.9 million, a $5 million year-over-year income improvement. BetMGM barely took home fourth place with a $98.1 million handle as Caesars was right there at $97.9 million. The two online books were separated by less than $250,00 in gross profit.
ESPN BET finished sixth with a $37.1 million handle, and a double-digit win rate produced $3.9 million in gross revenue, just $236,000 less than June’s profit. BetRivers was seventh with a $35 million haul and $3.3 million income, while Bally Bet produced a 9.4% hold on a $9.2 million handle.
Calm before the storm
The Empire State has less than one month to get through before the summer slowdown ends and regular-season football begins.
College football’s Week 1 runs during the month's last weekend, with the NFL starting in early September. Last season, New York reeled off five consecutive months with handles over $2 billion.
During the week ending Aug. 3, sportsbooks generated $36 million from a $338.7 million handle.
