August's initial sports betting revenues in New York surge to $36 million
New York's sports betting market continues to thrive, with steady handle growth and impressive sportsbook hold rates. In July 2025, bettors wagered a total of $1.4 billion, marking an 11% year-over-year increase, and sportsbooks generated $155.6 million in gross revenue with an 11.1% hold rate [1][4][5].
Leading the pack are DraftKings and FanDuel, the top performers in the market. DraftKings held the lead with a handle of $500 million, maintaining a full-year streak above $500 million monthly handles [1]. FanDuel followed closely with $476.9 million in handle, albeit under $500 million for the first time since July 2024. However, FanDuel generated higher gross revenue ($61.3 million) than DraftKings due to a stronger 12.8% hold rate [1][2].
Weekly data from early August 2025 showed FanDuel leading with a weekly handle of $113.6 million and gross revenue of $13.6 million, boasting a 12% hold rate [2]. DraftKings trailed slightly with a weekly handle of $105.3 million and $11.4 million in gross revenue, managing just under an 11% hold rate [2].
Other operators like BetMGM, Caesars, ESPN BET, BetRivers, and Bally Bet also actively participate in the market, but specific July and August share data for these operators were not highlighted in the sources [1][2][4].
The market's success is marked by high hold rates, steady growth despite seasonal fluctuations, and strong state revenue generation from sports betting. A typical summer lull due to fewer NBA and NFL preseason games caused some slower betting months, but MLB betting volume rose 10% year-over-year in July [1]. Sportsbooks consistently maintain double-digit hold percentages (over 10%) and profits above $30 million weekly in aggregate [2]. The state’s sports betting tax revenue surpassed $700 million in 2025 to date [1].
However, not all operators have enjoyed the same success. Fanatics Sportsbook, for instance, experienced a dip in July, while BetRivers posted a hold under 8% on a smaller handle in the latest week [1][2]. Fanatics Sportsbook also suffered a $3.8 million loss in the latest week, while ESPN BET surpassed $10 million in wagers for the second straight week, earning $1.2 million on a 12.3% hold [1][2]. Caesars made $3 million from a $22.1 million handle in the latest week, and Bally Bet posted a hold under 8% on a smaller handle in the latest week [1][2]. BetMGM earned $3.7 million from a $26.9 million handle in the latest week [1][2].
In summary, DraftKings and FanDuel dominate New York's sports betting market by wagering handle and revenue. FanDuel often produces higher hold-based revenue despite slightly lower handles. Other operators contribute to the competitive landscape, but without detailed July or August share data in available sources [1][2][4]. The market is marked by high hold rates, steady growth despite seasonal fluctuations, and strong state revenue generation from sports betting.
The stronghold of the sports betting market in New York is shared by DraftKings and FanDuel, with FanDuel generating higher revenue than DraftKings due to a stronger hold rate, even though DraftKings maintains a higher wagering handle [1]. Despite seasonal fluctuations, the market's success is evident in the high hold rates, consistent growth, and impressive state revenue generation from sports betting [1].
