New York’s mobile sports betting market reported a notable decline in gross gaming revenue for May, despite consistent wagering activity across the state.
Key Takeaways
* New York mobile sportsbooks generated $204.2 million in gross gaming revenue (GGR) for May, an 18% decrease compared to May of the previous year.
* The revenue reduction was primarily attributed to lower operator hold rates, rather than a substantial drop in betting volume.
* FanDuel and DraftKings led the market in betting handle, while Fanatics and Bally Bet were the only operators to report year-over-year revenue growth.
New York Sports Betting Sees Revenue Decrease in May
Data released by the New York State Gaming Commission indicates that mobile sportsbooks in New York recorded $204.2 million in gross gaming revenue (GGR) during May. This figure represents an 18% decline when compared to May of the prior year. The state subsequently received $104.1 million in tax revenue for the month, marking the second month of New York’s 2026–27 fiscal year.
The decrease in revenue was driven less by a reduction in betting activity and more by the performance of the operators. Bettors placed $2.13 billion in wagers across the state’s eight mobile sportsbooks, a 3.6% decrease from the $2.21 billion wagered in May 2025. However, sportsbook hold rates experienced a notable shift, with the statewide win rate falling to 9.6% from 11.3% a year earlier.
Market Trends and Legislative Focus
The decrease in gross gaming revenue occurred even as betting activity has expanded in New York. This trend has drawn attention from lawmakers, who recently proposed legislation to examine the potential risks associated with prop bets, a segment that has seen increased popularity within the state.
Cumulative mobile sports betting handle in New York has now surpassed $95 billion since its inception.
Operator Performance Breakdown
FanDuel and DraftKings collectively accounted for approximately 69% of the total betting handle in May. Of New York’s eight mobile sportsbook operators, six reported lower revenue compared to the same month last year. Only Fanatics and Bally Bet posted year-over-year gains.
* DraftKings generated $706.5 million in handle and $66.5 million in revenue during May, with a 9.4% hold rate. Compared to May 2025, its revenue decreased 21%, and handle fell 10%.
* FanDuel maintained its position as the market leader, recording $767.8 million in handle and $88.7 million in revenue, supported by an 11.6% hold rate. Its revenue decreased approximately 18.5% year over year. These figures were derived from subtracting other operators’ reported data, as they were not explicitly stated by the New York State Gaming Commission.
* Fanatics was one of two sportsbooks to report year-over-year revenue growth in May. The operator handled $249 million in wagers, a 30.6% increase from $190.6 million in the same month last year. Revenue reached $18.3 million, representing a 1.8% increase, with a hold rate of 7.3%.
* BetMGM recorded an increase to $166.2 million in handle, a 3.1% rise from the previous year. Despite the higher betting volume, its 8.1% hold rate resulted in $13.4 million in revenue, down 8.7% year over year.
* Caesars posted a revenue of $9.8 million, marking a 28.6% decrease from May 2025, which was the largest percentage decline among the operators.
* BetRivers posted a 6.9% hold rate, while its revenue declined 24.7% compared to the same period last year.
* theScore Bet, owned by Penn Interactive, recorded revenue 19% lower than the amount reported by its predecessor, ESPN Bet, in May 2025.
* Bally Bet delivered its strongest May performance to date, recording $14.1 million in handle, up 17.3% from a year earlier, while revenue surged 77.3% to $1.1 million.
In related news from New York, the state is considering prohibiting billboard gambling advertisements, a measure that could also affect the sports betting sector.
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