Key Moments:
- New York’s mobile sports betting market hit a record $2.64 billion in wagers in October, the highest monthly figure ever in the U.S.
- Operators posted $238.7 million in revenue for the month, a 35% increase compared to October 2024, while tax receipts reached $121.8 million.
- FanDuel became the first operator to top $1 billion in monthly handle in New York, gaining a 38.1% market share.
October Delivers Landmark Numbers for New York
October proved to be a landmark month for mobile sports betting in New York, with the total handle reaching $2.64 billion. According to the New York State Gaming Commission (NYSGC), this figure set a new U.S. monthly record for wagers, surpassing the previous best of $2.49 billion achieved in January. The month marked the third consecutive time that New York’s online betting handle exceeded $2 billion and was the 14th instance overall.
Activity surged in October, with total handle growing nearly 14% year-on-year, fueled by two separate weeks where weekly wagers each went beyond $650 million.
New York sets a new U.S. state record with over $2.64 BILLION in total $$ wagered on mobile sports betting in October.
Previous high was $2.48B in NY (Jan. 2025)
— Ben Fawkes (@BFawkes22) November 6, 2025
Revenue and Tax Collections Surge
Operators registered a 9% hold in October, generating $238.7 million in revenue. This marked a 35% jump compared to October 2024. For 2025 so far, cumulative operator revenue has passed $2 billion and now sits just $36 million below the previous year’s total.
Tax contributions continued to escalate alongside rising handle and operator performance. The month’s tax receipts came in at $121.8 million, representing the third-highest monthly figure on record. With two months remaining in 2025, New York’s collected tax revenue has already exceeded the full-year total for the previous year, now standing above $1.05 billion.
Performance of Major and Emerging Operators
| Operator | Handle ($ millions) | Revenue ($ millions) | Market Share (%) | Revenue Growth (YoY) |
|---|---|---|---|---|
| FanDuel | 1,006 | 100.6 | 38.1 | 30 |
| DraftKings | 938 | 82.9 | 35.5 | 15 |
| BetMGM | 187.5 | 14.4 | 7 | 50+ |
| Caesars | 175.8 | 13.2 | – | – |
| Fanatics | 205.7 | 18.7 | – | 51 |
| BetRivers | 53 | 4.4 | – | – |
| ESPN Bet | 60.3 | 3.4 | 2.3 | – |
FanDuel achieved a milestone as the first operator to surpass $1 billion in handle within a single month in New York, tallying $1.006 billion in wagers. Its revenue reached $100.6 million, a 30% year-on-year increase, bringing its market share to 38.1%. DraftKings followed closely with a personal best handle of $938 million, marking a 15% handle increase from the previous year, and reported $82.9 million in revenue with a market share of 35.5%.
BetMGM increased its market share to 7% for the first time since July, recording $187.5 million in wagers and $14.4 million in revenue, more than 50% above last year’s result. Caesars saw $175.8 million in handle and $13.2 million in winnings, continuing its own upward trajectory versus prior periods.
Among smaller operators, Fanatics saw its handle drop to $205.7 million; however, revenue grew 51% year-on-year to hit $18.7 million. BetRivers marked its best showing since 2023, reporting $4.4 million in revenue on a $53 million handle.
Industry Change and ESPN Bet’s Performance
October’s data came as Penn Entertainment and ESPN Bet announced the end of their $2 billion partnership after two years. Despite extensive marketing efforts, ESPN Bet’s New York performance remained subdued, accounting for just 2.3% of the state’s wagers during the month, with a $60.3 million handle and $3.4 million in revenue.
As the year progresses, New York continues to assert itself as the leading and most profitable state for mobile sports betting, with no signs of losing momentum heading into the end of 2025.
- Author
Daniel Williams
