New York’s online sports betting market experienced a seasonal dip in July, with total wagers falling to a 12-month low, according to data released by the New York State Gaming Commission. Bettors placed $1.4 billion in wagers during the month, marking the lowest handle since July 2024’s $1.27 billion and a sharp 15.2% drop from June’s $1.65 billion.
Revenue Declines Despite Year-on-Year Growth
Gross gaming revenue (GGR) for July reached $155.8 million — a 10.6% increase compared to July 2024, but a 24.8% decline from June’s $206.5 million. The state reports GGR on a cash basis, meaning future bets are taxed immediately, while payouts are recorded when redeemed.
The downturn aligns with typical summer slowdowns, as fewer major sporting events lead to reduced consumer engagement. Still, the year-over-year dip in weekly betting volume is notable. For the week ending July 13, online sportsbooks generated $328.7 million in wagers — down 9.4% from the same week last year and 7.2% from the prior week.
Operator Performance: FanDuel Leads, DraftKings Follows
Despite the overall decline, Flutter-owned FanDuel maintained its position as New York’s top revenue-generating sportsbook, posting $61.4 million in GGR from a $476.9 million handle — a strong 12.87% hold.
DraftKings edged out FanDuel in total wagers with a $509.4 million handle but earned less revenue, reporting $52.5 million for a 10.31% hold.
Top Operators by Revenue and Hold
| Operator | Handle ($M) | Revenue ($M) | Hold (%) |
|---|---|---|---|
| FanDuel | 476.9 | 61.4 | 12.87 |
| DraftKings | 509.4 | 52.5 | 10.31 |
| Fanatics | 137.7 | 13.9 | 10.09 |
| BetMGM | 98.1 | 10.0 | 10.19 |
| Caesars | 97.9 | 9.7 | 9.91 |
| ESPN Bet | 37.1 | 3.9 | 10.51 |
| Rush Street Interactive | 35.0 | 3.4 | 9.71 |
FanDuel’s continued dominance comes on the heels of a strong Q2 earnings report, with the company showing growth across multiple U.S. markets. Meanwhile, ESPN Bet and Rush Street Interactive were the only other operators to surpass $1 million in revenue.
