New York online sports betting revenue reaches record $280.6m in November

• November revenue of $280.6 million surpasses the previous record of $248.9 million set in May 2025 by 12%, representing a 21.2% increase compared to November 2024.
• FanDuel sets an individual operator record with $131.9 million in monthly revenue from a $1 billion handle, achieving a hold percentage of 13.19%
• Handle reaches $2.61 billion, marking a 15% increase year-over-year, falling just short of October 2025’s all-time monthly handle record of $2.64 billion.

New York’s online sports betting industry recorded revenue of $280.6 million in November 2025, establishing a new monthly record for the Empire State. The figure represents a 12% increase over the previous high of $248.9 million set in May this year.

The November total also marked a 21.2% improvement compared to the same month in 2024. On a month-over-month basis, revenue grew by 17.6% from October’s $238.7 million. The performance reflects continued growth in the nation’s largest sports betting market.

Handle approaches record levels

Betting activity remained strong throughout the month. Players wagered approximately $2.61 billion on online sports betting platforms, according to data from the New York State Gaming Commission. This represented a 15% increase from November 2024.

However, the handle fell slightly short of breaking the all-time record. October 2025 still holds that distinction with $2.64 billion in total wagers.

Based on the betting handle and revenue figures, operators achieved a hold percentage of approximately 10.78% for the month. This margin contributed to the record-breaking revenue totals.

FanDuel and DraftKings dominate market

FanDuel continued its dominance in the New York market by setting an individual operator record. The Flutter Entertainment-owned platform reported $131.9 million in monthly revenue, the highest amount ever recorded by a single operator in New York.

The company processed $1 billion in wagers during November, achieving a hold percentage of 13.19%. This marked the second consecutive month FanDuel exceeded the $1 billion handle threshold.

DraftKings also recorded its best monthly performance in the state. The operator generated $89.1 million in revenue from a handle of $916.3 million. This represents a hold percentage of 9.72%. The November figure surpassed DraftKings’ previous high of $84.2 million set in May.

Together, FanDuel and DraftKings accounted for approximately 78.8% of all operator revenue in New York during November. The two companies processed nearly $1.92 billion in combined wagers.

Other operators show growth

Fanatics secured third place among New York operators. The platform attracted $209.1 million in bets and reported $23 million in revenue for November. This represents a monthly hold of 11%.

The result marked Fanatics’ best monthly performance since its New York launch in February 2024. The operator has now recorded handle above $200 million for four consecutive months.

Caesars and BetMGM rounded out the top five operators. Caesars reported $14 million in revenue from a handle of $186.2 million, achieving a 7.52% hold. BetMGM generated $13.5 million from $171.6 million in wagers, resulting in a 7.87% hold.

Rush Street Interactive reported revenue of $4.1 million from $49.9 million in handle. This represents an 8.22% hold percentage for the month.

ESPN Bet generated $3.9 million in revenue from $56.5 million in wagers during its final month of operation in New York. The platform achieved a 6.9% hold. Penn Entertainment rebranded ESPN Bet as theScore Bet on 1st December 2025, ahead of its Missouri launch.

Smaller operators Bally Bet and Resorts World Bet reported revenues of $1.1 million and $230,000 respectively. Their handles were $16.8 million and $2.8 million.

Regulatory environment evolves

The record revenue figures come as New York implements new regulatory measures. The state recently signed legislation banning sweepstakes betting operations, adding pressure to an industry already navigating a complex legal framework.

State officials have also announced plans to review certain sports betting markets for potential manipulation vulnerabilities. This follows recent integrity scandals in professional sports leagues.

The New York State Gaming Commission has indicated it will examine individual player proposition markets. Chairman Brian O’Dwyer stated the commission would eliminate any wagers believed susceptible to manipulation rather than simply restricting them.

New York applies a 51% tax rate on sports betting revenue, the highest in the United States. This means the November results generated approximately $143 million in tax revenue for the state. The funds are primarily directed toward education programmes.

Market background

New York launched online sports betting in January 2022. Since then, the market has grown to become the largest in the United States by both handle and revenue.

Through November 2025, the state has processed more than $20 billion in online sports betting volume for the calendar year. With December figures yet to be released, the full-year total is expected to exceed the $22.6 billion recorded in 2024.

November’s strong performance was partly driven by the convergence of multiple sports seasons. The NFL, NBA, NHL, college football and college basketball were all in full swing. The Thanksgiving holiday period also contributed to increased betting activity.

The week ending 30th November 2025 recorded a handle of $637.5 million, marking one of the strongest single-week performances of the year. This represented an 18.6% increase from the previous week.

The continued growth positions New York as the clear leader in the US sports betting landscape. Only potential legalisation in major states like California or Texas could challenge its market dominance.

FanDuel and DraftKings have solidified their positions as the two dominant operators. Both companies have already exceeded their full calendar year 2024 revenue totals with one month remaining in 2025.

Industry observers expect December to deliver strong results as well. The month includes major sporting events and the conclusion of the NFL regular season, typically driving significant betting activity.