New York sportsbooks have surpassed $4 billion in revenue, becoming the first state to achieve this milestone in the post-PASPA era. This achievement comes after the New York State Gaming Commission reported $134.2 million in operator winnings for June. Despite trailing New Jersey in handle by $4.84 billion (as per NJ.bet‘s data), New York’s sportsbook apps, with a total of $46.87 billion in wagers, boast an all-time hold of 8.8%, compared to New Jersey’s 7.5%.
June’s revenue marked a 29.1% increase from last year, with a $1.48 billion handle, up 26.2%. The 9.1% hold for June brought $68.3 million in state taxes. New York also crossed $1 billion in sports betting revenue for the calendar year, with mobile operators contributing over $500 million in tax revenue for 2024.
Former Governor Andrew Cuomo projected $500 million in tax revenue from mobile sports betting annually, while current Governor Kathy Hochul’s projections for Fiscal Year 2025 stand at $860 million. The state has already collected $265.7 million in the first three months of FY 2025.
If this success in New York sets a precedent, it could inspire other states to pursue similar revenue milestones and potentially lead to a nationwide domino effect in the online sports betting industry.
| Sportsbook App | Market Share (%) | iOS Rating | Android Rating |
|---|---|---|---|
| FanDuel | 47 | 4.8 | 4.6 |
| DraftKings | 26 | 4.7 | 4.5 |
| Caesars | 16 | 4.6 | 4.4 |
| BetMGM | 8 | 4.6 | 4.5 |
| BetRivers | 3 | 4.5 | 4.4 |
New York’s sportsbooks have seen significant growth since the legalization of mobile sports betting in January 2022. As of now, New York sports books have surpassed $4 billion in total revenue, with FanDuel holding the largest market share at 47%, followed by DraftKings with 26%, and Caesars with 16%.
