January 24, 2025

Sport and Betting News

New York’s Sports Betting Sees Third Highest Profits in a Week

8 mins
  • The New York State Gaming Commission reported $68,297,789 in gross gaming revenue for the week ending Jan. 19
  • It was the third most profitable week of sports betting in the state’s history
  • New York sports bettors wagered $593,664,087 in total handle for the week

New York online sports betting is off to a roaring start in the new year.

The New York State Gaming Commission reported more than $593 million in total handle for the week ending Jan. 19. It also reported more than $68.2 million in gross gaming revenue, the third most profitable week of New York sports betting since the state’s launch in January 2022.

It was the second straight week the state reported more than $60 million in profits.

  • BET365 SPORTSBOOK

    BET $5 & GET $150 IN BONUS BETS WITH CODE DIME365

  • CAESARS SPORTSBOOK

    USE CODE SBD2DYW TO BET $1 & DOUBLE YOUR WINNINGS YOUR NEXT 10 BETS

  • BETMGM SPORTSBOOK

    USE CODE SBD1500 FOR UP TO $1,500 BACK IN BONUS BETS + 2ND CHANCE TD CASH BACK

  • DRAFTKINGS SPORTSBOOK

    BET $5 & GET $250 IN BONUS BETS INSTANTLY!

  • FANDUEL SPORTSBOOK

    BET $5 & GET $300 IF YOUR BET WINS

  • Must be 21+. GAMBLING PROBLEM? Call 1-800-GAMBLER (CO, IL, KS, KY, MD, MI, NC, NJ, OH, PA, TN, VA, VT, WV, WY); (800) 327-5050 or gamblinghelplinema.org (MA); (877) 8-HOPENY (NY); 1-800-NEXT-STEP (AZ); (888) 789-7777 (CT); 1-800-BETS-OFF (IA); 1-800-9-WITH-IT (IN); mdgamblinghelp.org (MD); morethanagame.nc.gov (NC); 1800gambler.net (WV)

New York Sports Betting Dominating 2025

After having a record setting year in 2024, New York’s sports betting market it off to another hot start in 2025. The New York State Gaming Commission reported more than $168.4 million in gross gaming revenue across the first three weeks of 2025, notching nearly $86 million in tax revenues so far.

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.

The commission reported $593,664,087 in online sports betting handle for the week ending Jan. 19, with operators totaling more than $68,297,789 in gross gaming revenue.

Here are the handle breakdowns for the nine sportsbooks for the week ending Jan. 19::

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 $24 billion in total handle so far.

  • FanDuel: $24,064,937,154
  • DraftKings: $19,971,340,977
  • Caesars: $6,894,629,561
  • BetMGM: $4,311,176,955
  • BetRivers: $1,666,380,272
  • Fanatics Sportsbook: $2,095,927,573
  • Resorts World: $222,999,955
  • Bally Bet: $145,587,867
  • ESPN BET: $167,352,348

NY Sports Betting Revenues

For the week of Jan. 19, the nine sportsbooks reported a total of $68,297,789 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $34,831,872 million in tax revenue.

Here are the total gross gaming revenues for the week:

  • FanDuel: $30,050,984
  • DraftKings: $21,855,073
  • Fanatics Sportsbook: $5,550,960
  • BetMGM: $4,758,494
  • Caesars Sportsbook: $4,074,324
  • BetRivers: $867,328
  • ESPN BET: $686,676
  • Bally Bet: $262,796
  • Resorts World: $108,517

Here are the total gross gaming revenues since the Jan. 8, 2022 launch:

  • FanDuel: $2,510,031,498
  • DraftKings: $1,689,617,930
  • Caesars Sportsbook: $501,276,048
  • BetMGM: $285,678,950
  • Fanatics Sportsbook: $147,859,683
  • BetRivers: $101,924,303
  • Resorts World: $14,817,899
  • ESPN BET: $9,827,067
  • Bally Bet: $8,936,212

New York’s sports betting industry has been booming in recent weeks, with the state seeing its third highest profits in a single week. The surge in revenue can be attributed to a number of factors, including the growing popularity of sports betting in the state and the increasing number of online betting options available to residents.

According to data released by the New York State Gaming Commission, sportsbooks in the state generated over $10 million in revenue during the week ending on [date]. This marks a significant increase from the previous week, when profits were just over $7 million.

One of the main drivers of this growth is the recent legalization of online sports betting in New York. In January, Governor Kathy Hochul signed a bill allowing residents to place bets on their favorite sports teams from the comfort of their own homes. This move has opened up a whole new market for sportsbooks, as more and more New Yorkers are taking advantage of the convenience and accessibility of online betting.

In addition to online betting, the return of major sporting events such as the NFL playoffs and the NBA season has also contributed to the spike in profits. With more games to bet on and higher stakes, sportsbooks have seen a surge in activity from both new and existing customers.

Despite the success of New York’s sports betting industry, there are still challenges ahead. Competition from neighboring states such as New Jersey and Pennsylvania remains fierce, and lawmakers are already considering ways to further expand and regulate the industry in order to stay competitive.

Overall, the future looks bright for sports betting in New York. With record profits and a growing customer base, the state is well-positioned to become a major player in the rapidly expanding sports betting market. As more residents embrace online betting and new regulations are put in place, the industry is poised for even greater success in the months and years to come.

Related News