New York sports betting handle dips to $1.4bn in July
Summer slowdown leads to lowest overall wagering volume in 12 months, but handle remains up year over year
The summer slowdown on the sports calendar was in full effect in New York in July, as sportsbooks saw handle dip to $1.4bn, according to new data from the New York State Gaming Commission.
The handle figure marked a 12-month low and only the third time in the past 11 months that overall wagering volume didn’t eclipse the $2bn threshold. Handle was nonetheless up 9.9% year–over–year (YOY), a sign of the market’s continued growth.
Gross revenue for June amounted to $155.6m, the lowest since August 2024 but a 9.8% YOY increase from $140.3m during the same period of 2024. That equated to a strong 11.1% statewide hold.
As a result, $79.3m in tax payments was sent back to the state.
Through the first seven months of the year, operators have generated over $735m in tax revenue for the benefit of educational initiatives.
Looking at the operator landscape, FanDuel led the way with $61.3m in gross revenue on $476.9m in handle, giving way to a stellar 12.9% hold that registered as nearly two points higher than the statewide average.
DraftKings, meanwhile, took top honors in handle at $509.4m but netted only $52.5m in revenue. The resulting 10.3% win rate, while solid when weighed against industry standards, was still markedly lower than its primary US competitor.
The final podium spot went to Fanatics, which accrued $13.9m in revenue on $137.7m in handle, equating to a 10.1% hold.
Next on the list were BetMGM ($98.1m handle, $10m revenue) and Caesars ($97.9m handle, $9.7m revenue), which were neck and neck for the fourth and fifth positions, respectively.
ESPN BET, which recently announced its new personalization push and deeper integration with the ESPN app, generated $3.9m in revenue on $37.1m in handle.