New York Sports Betting Revenue Slumps To $160M in September

The New York State Gaming Commission reported $160 million in sports betting operator revenue for September, a notable drop from the same month last year.

Revenue fell 17.8% as the 6.7% hold was more than 1.8 percentage points off. That also pushed year-to-date revenue below the first three quarters of 2025, as the $1.75 billion operators have claimed is off by 1%.

Handle, meanwhile, increased 4.9% to just over $2.4 billion. That is the sixth-highest total both in state history and the post-PASPA era nationwide. New York bettors have wagered more than $2 million monthly on 23 occasions since mobile betting became available in January 2022.

The state collected $81.4 million in total tax receipts, with all but $64,100 coming from online sportsbooks paying their 51% levy. The $565 million in tax revenue for the first six months of Fiscal Year 2026-27 is running $34.8 million behind the previous fiscal year.

FanDuel, Fanatics Post Handle Gains but Revenue Slides

FanDuel posted a 14.5% surge in September handle to $904.7 million, but it couldn't fully capitalize, as bettors kept it below a 10% hold for the second straight year. FanDuel led New York's mobile sportsbooks with $63.7 million in revenue, but that was down 18% from 2025, and its 7% win rate was 2.8 percentage points lower.

Fanatics showed the widest year-over-year disparities. It remains the only operator, besides FanDuel and DraftKings, to claim at least 10% of the state's mobile marketplace; accepted bets totaled $266.8 million, up 21.8% from a year ago, and accounted for 11.1% of all digital wagering. A 5.4% hold, down nearly four full percentage points from the previous September, sent revenue tumbling almost 30% to $14.4 million. It was the third time in seven months Fanatics posted a monthly hold below 5.5%, something that happened only once in its first 24 months of operation, from March 2024 through February.

As FanDuel's handle ticked higher, DraftKings saw the opposite. Its $840.1 million handle was a 2026 high, but it was 3.5% lower than last year. Revenue dipped 16% to $56 million, driven by a 6.7% win rate down one percentage point.

Caesars also took it on the chin in September, with total winnings below $8 million. That was down 27.4% from last year, while handle was practically flat at $152.7 million. Caesars posted a 5.2% win rate, down two full percentage points from last year.

Small Books Make Revenue Gains

The two smallest operators in the Empire State, Bally Bet and TheScore Bet, were the only ones to post year-over-year revenue gains. Bally Bet reported a 58.4% increase in winnings to more than $1.2 million, driven by a 9.3% hold, more than three percentage points higher than last year.

Revenue from TheScore Bet rose 1.8% from predecessor ESPN Bet to $2.8 million, but the Penn Entertainment sportsbook did most of the lifting as handle plunged 32.9% to $31.6 million. TheScore Bet attained a near-9% hold, also up more than three percentage points from September 2025.

The state's other two operators, BetMGM and BetRivers, both saw smaller year-over-year revenue declines. BetMGM winnings slipped 8.5% to just under $10 million, while BetRivers revenue fell 4.2% to $3.4 million.