- New York online sports betting has started 2025 off fast
- The gaming commission reported $600.8 in online sports betting handle for the week ending Jan. 5, 2025
- It was the most New Yorkers have ever bet in a single week
New York online sports betting has already started the new year off on the right foot.
New Yorkers bet the most they ever have in a single week to start off 2025, as the New York State Gaming Commission reported more than $600.8 million in online sports betting handle for the week ending Jan. 5, 2025.
The previous high in handle was $592.8 million for the week ending April 7, 2024.
New York Had Banner 2024
The first week of 2025 New York online sports betting is mirroring 2024, as New York set state highs in handle, gross gaming revenues, and tax revenues. While the full calendar year totals have yet to be released, the gaming commission reported $1,052,040,994 in total online sports betting tax revenue through Dec. 29, 2024, the first state in the history of U.S. sports betting to ever crack $1 billion in total sports betting tax revenues for a calendar year.
Additionally, New York online sports betting customers wagered $22,350,483,062 on sports through Dec. 29, 2024, a new record as well.
New York generated $860.7 million in sports betting tax revenues for 2023 and $693.1 million in sports betting tax revenues for 2022.
The New York State Gaming Commission reported $600,838,016 in online sports betting handle for the week ending Jan. 5, 2025, a new handle record. However, this did not result in record breaking revenues, as the state reported $38,140,600 in gross gaming revenue, more than a $23.3 million decrease from the previous week.
The New York State Gaming Commission releases handle and revenue reports for its nine live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, ESPN BET, and BetRivers, at the conclusion of each week.
Here are the handle breakdowns for the nine sportsbooks for the week ending Jan 5:
- FanDuel NY: $240,346,238
- DraftKings NY: $191,987,866
- Fanatics Sportsbook: $51,375,252
- BetMGM NY: $48,844,682
- Caesars Sportsbook: $40,455,242
- BetRivers: $12,137,504
- ESPN BET: $11,078,337
- Bally Bet: $2,679,161
- Resorts World: $1,933,734
Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $20 billion in total handle, but DraftKings is close to crossing the threshold.
- FanDuel: $23,615,769,358
- DraftKings: $19,586,447,879
- Caesars: $6,817,067,701
- BetMGM: $4,216,823,694
- Fanatics Sportsbook: $2,004,597,909
- BetRivers: $1,644,062,796
- Resorts World: $219,314,017
- Bally Bet: $140,752,033
- ESPN BET: $140,792,300
NY Sports Betting Revenue
For the week of Jan. 5, 2025, the nine sportsbooks reported a total of $38,140,600 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $19,451,706 in tax revenue.
Here are the total gross gaming revenues for the week:
- FanDuel: $17,169,591
- DraftKings: $12,725,323
- Caesars Sportsbook: $2,617,823
- Fanatics Sportsbook: $2,426,485
- BetMGM: $2,009,601
- BetRivers: $802,323
- Bally Bet: $291,615
- Resorts World: $89,166
- ESPN BET: $8,674
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $2,450,068,502
- DraftKings: $1,647,403,734
- Caesars Sportsbook: $493,640,768
- BetMGM: $277,232,329
- Fanatics Sportsbook: $140,260,125
- BetRivers: $100,070,128
- Resorts World: $14,481,820
- Bally Bet: $8,456,842
- ESPN BET: $8,013,438
In recent years, online sports betting has become increasingly popular in New York, with the state seeing record-high numbers in terms of wagers placed and revenue generated. This surge in online sports betting can be attributed to a number of factors, including the legalization of mobile sports betting in the state and the growing popularity of sports betting as a form of entertainment.
One of the main reasons for the increase in online sports betting in New York is the legalization of mobile sports betting in the state. In January 2022, Governor Kathy Hochul signed a bill into law that allowed for mobile sports betting to take place in New York. This move was seen as a major victory for sports betting enthusiasts in the state, as it allowed them to place bets on their favorite sports teams from the comfort of their own homes.
Another factor contributing to the record-high numbers in online sports betting in New York is the growing popularity of sports betting as a form of entertainment. With the rise of online sportsbooks and betting apps, more and more people are turning to sports betting as a way to add excitement to their favorite sporting events. This increased interest in sports betting has led to a surge in wagers being placed on a wide range of sporting events, from football and basketball to baseball and soccer.
The record-high numbers in online sports betting in New York have also been fueled by the availability of a wide range of betting options and promotions. Online sportsbooks in the state offer a variety of betting options, including traditional moneyline bets, point spread bets, and over/under bets, as well as a number of promotions and bonuses to entice new customers. These offerings have helped to attract a large number of bettors to online sports betting platforms in New York, leading to the record-high numbers seen in recent months.
Overall, the surge in online sports betting in New York can be attributed to a combination of factors, including the legalization of mobile sports betting, the growing popularity of sports betting as a form of entertainment, and the availability of a wide range of betting options and promotions. As online sports betting continues to grow in popularity in the state, it is likely that we will continue to see record-high numbers in terms of wagers placed and revenue generated in the coming months and years.
