New York Sportsbooks Produce Second Straight $200 Million Profit Month, Set New June Hold Record

The Empire State’s nine online sports betting operators generated $206.5 million in revenue from a $1.65 billion handle.

Brad Senkiw - Contributor at Covers.com
Brad Senkiw • News Editor
Jul 10, 2025 • 17:01 ET • 4 min read
Photo By - Imagn Images.

New York’s nine online sports betting operators eclipsed $200 million in gross revenue for the second consecutive month and set a new state win rate record in June.

Key takeaways

  • The 12.5% hold beat out the previous 11.5% high set in both August and September 2022.
  • June revenue spiked 54% from the same month in 2024 while handle rose 11.7%. 
  • FanDuel and DraftKings had 75.6% of the month's entire gross revenue.

The New York Gaming Commission reported Thursday that mobile sportsbooks generated $206.5 million in profit from a $1.65 billion handle. They hauled in $248.9 million in revenue from $2.21 billion in bets during a record-setting May. June’s 12.5% hold beat out August and September 2022, which were tied at 11.5%, for the highest win rate ever. 

New York online sports betting operators enjoyed a whopping 54% year-over-year revenue increase in June, while hold was up from the previous June’s 9.1%. Handle spiked 11.7% year-over-year, but was the lowest in 2025 and second under $2 billion.

What a run

It’s the first time the U.S.' most lucrative market went over $200 million in back-to-back months since online wagering launched in January 2022. May and June revenue totals combined increased 34.8% compared to the same two months in 2024.    

All that operator profit led to $105.3 million in state tax income, now over $656 million year-to-date. More than $230 million of that was during the last two months. 

Market leaders own June

Online Operator June Handle Revenue
DraftKings $607 million $69.8 million
FanDuel $563.7 million  $86.3 million
Fanatics Sportsbook $151.7 million  $17.3 million
BetMGM $116.6 million $11.9 million
Caesars $108.3 million $12.3 million
ESPN BET $46.1 million  $4.1 million

FanDuel and DraftKings combined to generate 75.6% of New York’s June gross revenue and hauled in 44.8% more profit than in June 2024. DraftKings led all operators with a $607 million handle, but FanDuel used a massive 15.4% hold to generate more income from a $563.7 million haul. 

Three other Empire State sportsbooks enjoyed double-digit holds in June. Fanatics Sportsbook was one, finishing third with $151.7 million in wagers and $17.3 million in profit. BetMGM also eclipsed a 10% win rate with a $11.9 million revenue on a $116.6 million handle. 

Caesars stayed above $100 million in bets during June and hauled in a $12.3 million profit, while ESPN BET topped BetRivers in both categories to finish sixth. 

Resorts World Bet ceased online operations at the end of June and exited New York's market, generating $229,357 in income on a $2.75 million handle in its final month. Operating since March 2022, the online sportsbook ends its Empire State run with $266 million in bets and $17.8 million in gross revenue.

Weekly handle, profits rise slightly   

New York's Gaming Commission also reported Thursday the Empire State’s nine online sportsbooks generated $354.4 million in wagers during the week ending July 6, including a long Fourth of July weekend. 

With a heavy MLB slate and the Nathan’s Hot Dog Eating Contest drawing bettors, handle increased 1.3%. However, the summer slowdown took effect, producing the fourth consecutive week with under $400 million bet, the longest such run in 11 months. 

New York online sports betting operators hauled in $38.1 million in gross revenue, a more impressive 14.4% week-over-week spike, but well below the five-week streak of over $50 million in profit. The 10.7% hold was up from the previous week’s 9.5% win rate. Sports betting operators in New York combined to post a double-digit hold in six of the last eight weeks.  
    

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Brad Senkiw - Covers
News Editor

Brad has been covering sports betting and iGaming industry news for Covers since 2023. He writes about a wide range of topics, including sportsbook insights, proposed legislation, regulator decision-making, state revenue reports, and online sports betting launches. Brad reported heavily on North Carolina’s legal push for and creation of online sportsbooks, appearing on numerous Tar Heel State radio and TV news shows for his insights.

Before joining Covers, Brad spent over 15 years as a reporter and editor, covering college sports for newspapers and websites while also hosting a radio show for seven years.

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