FanDuel, DraftKings drive record July in New York

• New York’s eight licensed mobile sportsbooks generated $214.4 million in gross gaming revenue in July, the first time operators have generated more than $200 million in the month since mobile sports betting launched in January 2022.
• An 11.4% hold rate, more than double June’s 5.19%, drove the result even as total wagers fell 16.7% month over month to $1.88 billion.
• FanDuel led all operators in revenue with $86.1 million, while DraftKings topped the state in handle with $661.5 million.

New York’s online sportsbooks posted their strongest July on record, generating $214.4 million in gross gaming revenue from $1.88 billion in wagers, according to data released Friday by the New York State Gaming Commission.

It was the first July since mobile sports betting launched in January 2022 in which operators generated more than $200 million in revenue, as a stronger hold rate offset a decline in betting volume.

World Cup lifts handle

The 2026 FIFA World Cup played a significant role in keeping betting activity high during a period that usually sees a lull, with the NFL, NBA and NHL all off-season. New York’s July handle rose 34.3% year over year, following a 36.6% increase in June.

Together, June and July, which spanned the tournament, generated approximately $4.1 billion in wagers statewide.

Favorable tournament outcomes also helped operators. Three-way moneyline markets performed well for sportsbooks, and Spain’s win over Argentina in the final was among the results that lifted hold percentages, according to multiple industry trackers.

An 11.4% hold allowed operators to retain more than double the share of wagers they kept in June, when a 5.19% hold produced just $116.8 million in revenue. Revenue climbed by more than $97 million month over month even as total handle fell approximately 16.7%.

July’s $1.88 billion handle accompanied a 37.8% year-over-year increase in revenue and remained well above the $1.40 billion wagered in July 2025 and the $1.26 billion recorded in July 2024. Six of the state’s eight sportsbooks reported revenue growth from June to July.

FanDuel tops revenue

DraftKings accepted the largest handle, taking in $661.5 million. DraftKings recently struck a multi-year partnership with ESPN, and an 11% hold produced $72.9 million in gross gaming revenue for the operator.

The result followed a month of falling analyst price targets, with Morgan Stanley, Truist and MoffettNathanson all trimming their DraftKings outlooks in July ahead of the operator’s second-quarter print.

FanDuel finished slightly behind in handle at $651.2 million but posted the strongest revenue performance in the state. A 13.2% hold generated $86.1 million in gross gaming revenue, more than double its June total.

Parent company Flutter Entertainment has been expanding AI-driven personalisation and fraud-prevention tools across its brands, part of a broader push to apply the technology across pricing, security and customer experience.

Fanatics Sportsbook, which has spent this year expanding its casino gamification tools, continued strengthening its position. The operator handled more than $221.6 million in wagers and generated $21.1 million in revenue, a 129% increase from June.

BetMGM reported $138.3 million in wagers and an 11.3% hold for $15.6 million in revenue, while Caesars generated $11.4 million from $122.6 million in handle at a 9.3% hold. BetRivers took in roughly $40 million in bets at an 8.8% hold, and theScore Bet and Bally Bet both posted single-digit hold rates and generated less revenue than in June.

Tax revenue climbs

The stronger hold rate translated into a significant increase in state tax revenue. New York applies a 51% tax rate to mobile sports betting revenue, one of the highest in the country. July’s results generated approximately $109.3 million in tax revenue, compared with roughly $59.6 million in June.

The latest figures pushed New York’s year-to-date sports betting tax collections beyond $725 million. The state collected approximately $1.32 billion in sports betting tax revenue during all of 2025.

The results arrived shortly after DraftKings reported its second-quarter earnings on August 6, posting a $67.6 million net loss as customer-friendly outcomes across the NBA Finals and World Cup group stage cut into its hold.

July gave both operators a reason for optimism and a reason for caution: bigger audiences, thinner margins. Football season will settle which one wins out.