The Empire State’s nine online sports betting operators produced their highest-grossing April yet and generated 9.6% more year-over-year wagers for the month.
Key takeaways
- New York sportsbooks produced an 8.9% April hold that led to $192.7 million in gross income.
- April helped make up for a rough March for sports betting operators.
- FanDuel kicked off May with a big revenue week.
The New York Gaming Commission reported a $2.15 billion April handle Friday, the seventh to go over $2 billion in the past eight months and the most for that particular month since wagering went live in 2022.
The $192.7 million in gross revenue that kicked off a new Empire State fiscal year was a 4.8% increase from April 2024 and the second highest year-to-date behind January’s $257 million.
New York online sports betting operators produced an 8.9% hold, down slightly from the previous April’s 9.3%. This latest win rate was also the second lowest of 2025, but after a rough March Madness, other events, like the NFL Draft, along with the NBA and NHL Playoffs, provided operators with revenue they expected last month.
Back on track
April was a much better month for New York operators than March, when college basketball results went the way of the players and against the books. A lack of NCAA tournament upsets led to less income than anticipated for operators like DraftKings and FanDuel.
New York sportsbooks produced 19% more revenue in April than March, thanks to a hold up over 2 points. March's $161.8 million in gross income was the fifth-lowest amount in the previous fiscal year, behind the three slow summer months and a wildly successful Dec. 2024 for NFL bettors.
Behind a 51% tax rate, mobile sportsbooks filled the state’s coffers with $98.3 million, up from March’s $82.5 million haul.
Operator revenue increases
| Online Operator | April Handle | Revenue |
|---|---|---|
| FanDuel | $822.5 million | $84.8 million |
| DraftKings | $727.3 million | $66.8 million |
| Fanatics Sportsbook | $175.6 million | $12.5 million |
| BetMGM | $154.1 million | $11.2 million |
| Caesars | $153.4 million | $9.7 million |
| ESPN BET | $56 million | $3 million |
Six online operators saw month-over-month gross revenue gains in April, led by FanDuel. The mobile sportsbook went from $62.6 million in March to $84.8 million the following month.
FanDuel also led New York with a $822.5 million April handle, its sixth over $800 million in the last seven months. DraftKings was second with a $727.3 million haul. The online operator used a 9.2% hold to produce $66.8 million in gross profit, a $7.4 million increase from March.
Fanatics Sportsbook generated the third-most wagers with a $175.6 million handle, while its revenue slipped a tad to $12.5 million. BetMGM and Caesars both took in over $150 million in bets during April, but neither got their win rate to 8%.
ESPN BET overtook BetRivers for the sixth spot with a $56 million haul, its second highest since launching in late Sept. 2024.
Big week for FanDuel
With college basketball and the NFL Draft complete, it’s no surprise the week ending May 4 generated nearly 9% less dollars wagered than the previous week. The New York Gaming Commission reported the latest handle reached $480.2 million, just the third under $500 million in the last 10 weeks.
However, NBA Playoff upsets helped operators enjoy a 10.8% hold that led to $51.9 million in gross revenue, about $5 million less than the previous week, which had a $526 million handle.
Much of that income came from one particular operator. FanDuel hauled in $26.2 million, about $2 million more than the previous week, from a $180.6 million handle down $17 million from the previous week. Caesars was the only other sportsbook to see a week-over-week profit increase. DraftKings generated the second-highest handle at $163.9 million, but gross revenue fell by nearly $5 million.
