New York, the most lucrative sports betting market in the U.S., needed only 11 months in 2025 to surge past 2024’s operator revenue record. Sports betting growth is expected to continue into 2026, and in-person casinos are cleared to operate in America’s most populous city.
New York sports setting: Where things stand
Online sportsbooks have been operating in New York since January 2022. Resorts World exited the mobile market in June, leaving the Empire State with eight mobile operators:
- FanDuel
- DraftKings
- BetMGM
- Fanatics Sportsbook
- Caesars
- theScore Bet
- BetRivers
- Bally Bet
Nearly a dozen land-based casinos offer retail sports betting. The Empire State taxes online operators at a rate of 51%, the highest in the U.S. Mobile sportsbooks have generated over $1.19 billion in tax revenue for New York in 2025.
Empire State sportsbooks set weekly and monthly handle and revenue records this year. This has been the most profitable football season mobile operators have ever had since wagering launched almost four years ago, generating over $700 million in gross revenue on $7.5 billion in wagers since September.
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What’s next?
Next year will be a massive one for gaming in the Empire State. Three land-based casino projects in New York City recently received licensing approval from the gaming commission.
Resorts World New York, located at the Aqueduct Racetrack in the Jamaica neighborhood of Queens, will be the first site to offer live dealers on its existing casino floor that houses video gaming, beginning in March 2026, while construction for a hotel and larger gaming center gets underway. This will certainly help grow retail sports betting in a city that draws millions of visitors each year.
The other two casinos - Steve Cohen’s Hard Rock Metropolitan Park and Bally’s Bronx at Ferry Point - aren’t scheduled to open until 2030.
New York Gov. Kathy Hochul signed a bill in December that bans online sweepstakes casinos from operating in the Empire State. Also, the New York Gaming Commission is taking a closer look at player prop betting - after a recent MLB pitching scandal - and prediction markets, which could spark regulatory changes in 2026.
Sen. Joseph Addabbo Jr., an advocate for legal iGaming, hopes the sweepstakes ban clears the way for New York to implement a lucrative tax boost. Expect Addabbo to continue his legislative quest to bring online casinos to New York in early 2026 with an updated bill. However, his years-long venture has yielded no results under the current governor.
As for sports betting, New York could look to add a ninth sports betting operator to the attractive but competitive market in 2026. bet365 has expanded rapidly over the last couple of years, while Hard Rock Bet will soon have a retail foothold in the state. However, no sports betting operator has publicly expressed interest in joining the jurisdiction, which is currently dominated by FanDuel and DraftKings.
Notes and quotes
“Players, operators, and voters all made their position clear: They didn’t want a (sweepstakes) ban on this popular, safe form of entertainment. Governor Hochul had the opportunity to protect consumer choice and New York’s economic interests. Instead, she chose a short-sighted path, closing the door on choice, innovation, and hundreds of millions in economic activity.” - Jeff Duncan, executive director of SGLA.
“My priority is to ensure safety, prevent problem gambling, generate much-needed, significant revenue, and keep New York competitive with surrounding states.” - Addabo.
“Fans are more inclined to see the benefits rather than risks of online sports betting, but both fans and non-fans agree that sports commentators should not be allowed to talk about sports gambling and potential bets during the games.” - Sienna Research Institute director Don Levy.
“In New York State, the Gaming Commission - not sports wagering operators - controls the wagering menu and limits the sports and leagues accepted for sports wagering. Functionally, this gives those leagues substantial input regarding the wagering menu.” - New York State Gaming Commission chair Brian O’Dwyer.
Year in review
Dec. 4, 2025: New York's eight online sportsbooks, led by FanDuel and DraftKings, hauled in a gross revenue-record $280.5 million on a $2.61-billion handle in November.
Dec. 1, 2025: The New York Gaming Facility Location Board approves the three casino bids to the dismay of several citizens.
Nov. 6, 2025: The New York State Gaming Commission addressed NBA commissioner Adam Silver’s call for increased regulatory measures following the league’s latest gambling scandal.
Oct. 15, 2025: Popular daily fantasy sports operator PrizePicks returns to New York with peer-to-peer games a year after settling with the commission.
Aug. 22, 2025: A sports bettor wagered $119 million online in New York during the week ending Aug. 17.
Feb. 13, 2025: New York sportsbooks report $47 million in revenue from a $155-million handle during Super Bowl LIX.
