New York’s mobile sports betting market recorded lower revenue in May despite bettors continuing to wager more than $2 billion during the month, according to figures released by the New York State Gaming Commission.
Gross gaming revenue reached $204.2 million in May, representing a year-on-year decline of 17.8% from $248.9 million. Handle also moved lower, falling 3.6% from $2.21 billion in May 2025 to $2.13 billion this year.
The figures also showed a month-on-month slowdown. Revenue decreased 16.4% compared with April’s $244.1 million, while handle slipped 1.5% from $2.17 billion.
The state collected $104.1 million in tax revenue during the month, marking the second month of New York’s 2026-27 fiscal year.
Lower Hold Impacts Market Revenue
While betting activity remained relatively stable, operator win rates declined compared with the previous year. The statewide hold rate came in at 9.6%, down from 11.3% in May 2025.
The reduced hold largely explains the wider revenue decline compared with the smaller drop in wagering volume. Bettors continued to place substantial amounts across the state’s eight licensed operators, though sportsbooks retained a smaller percentage of wagers.
New York remains the largest online sports betting market in the United States by handle. Following May’s results, cumulative mobile sports wagering handle in the state has surpassed $95 billion.
FanDuel and DraftKings Continue to Lead
FanDuel maintained its position as the market leader. The operator processed $767.8 million in wagers and generated $88.7 million in revenue, achieving an 11.6% hold rate. Compared with May 2025, handle declined by approximately 4.4%, while revenue fell around 18.5%.
DraftKings ranked second with $706.5 million in handle and $66.5 million in revenue. The sportsbook posted a 9.4% hold rate. Year-on-year, handle decreased 10%, while revenue dropped 21%.
Together, FanDuel and DraftKings accounted for roughly 69% of all wagers placed in New York during May.
Fanatics was one of only two operators to increase revenue year-on-year. The sportsbook accepted $249 million in wagers, up 30.6%, and generated $18.3 million in revenue, representing a 1.8% increase.
Mixed Results Across Remaining Operators
BetMGM reported $166.2 million in handle and $13.4 million in revenue, while Caesars accepted $142.4 million in wagers and generated $9.8 million in revenue. Caesars recorded the sharpest annual revenue decline among operators, falling 28.6%.
BetRivers processed $44.1 million in wagers and reported $3.1 million in revenue. Penn Entertainment’s theScore Bet, which recently rebranded from ESPN Bet, generated $3.2 million in revenue from $42.6 million in handle.
Bally Bet delivered the strongest percentage growth in the market. Handle rose 17.3% to $14.1 million, while revenue increased 77.3% to $1.1 million, making it the operator’s best May performance to date.
Overall, six of New York’s eight sportsbooks reported lower revenue than a year earlier, with Fanatics and Bally Bet standing out as the only operators to post annual gains.
Source:
“New York Sports Betting Cools Off In May”, sports.yahoo.com, Jun 8, 2026
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