In a remarkable achievement for New York’s burgeoning online sports betting sector, the state reported a record $280.6 million in revenue for November 2025. This figure represents the highest monthly revenue ever recorded in the state’s online wagering history, surpassing the previous high by 12%. The previous peak of $248.9 million was set in May of the same year.
The year-over-year growth in revenue is impressive, marking a 21.2% increase compared to November 2024. Additionally, revenue from online sports betting grew by 17.6% between October and November 2025. However, while these figures underscore a thriving industry, the milestone for player spending, or handle, slightly fell short of previous highs. November’s online betting handle was $2.61 billion, a 15% boost from the prior year, though it did not surpass October’s record $2.64 billion.
FanDuel and DraftKings continue to dominate New York’s market, both breaking their own records for the month. FanDuel led with $131.9 million in revenue, the highest monthly earning by a single operator in the state. The company also reported a betting handle of $1 billion, implying a hold rate of 13.19%. DraftKings followed with a $916.3 million handle and $89.1 million in revenue, translating to a hold rate of 9.72%.
Fanatics, another major player in the market, secured its position in the top three with $209.1 million in bets and $23 million in revenue, reflecting an 11% hold. Caesars, BetMGM, and Rush Street Interactive reported monthly revenues of $14 million, $13.5 million, and $4.1 million, respectively. Their handles were $186.2 million, $171.6 million, and $49.9 million each.
Meanwhile, ESPN Bet, Bally Bet, and Resorts World Bet saw revenues of $3.9 million, $1.1 million, and $230,000, respectively, with handles of $56.5 million, $16.8 million, and $2.8 million. This data highlights the competitive landscape of New York’s sports betting industry, which is the largest in the United States by revenue.
The growth of online sports betting in New York is part of a larger trend in the United States where more states are legalizing and regulating the industry. Since the Supreme Court lifted the federal ban on sports betting in 2018, the market has expanded rapidly, with states eager to tap into the lucrative potential of legalized gambling. New York, with its massive population and sporting enthusiasm, has quickly become one of the most significant markets in the nation.
However, this growth is not without challenges. The state recently enacted a ban on sweepstakes gambling, a move that reflects increasing regulatory scrutiny. This new law could signal heightened regulatory oversight as the industry matures, potentially affecting how operators conduct business and engage with consumers.
The rapid expansion of online sports betting in New York raises both opportunities and risks. While the financial gains are substantial, the industry must navigate a complex regulatory environment that aims to balance economic benefits with consumer protection. There is also the risk of market saturation, as more operators enter the space and existing players vie for market share.
One potential risk is the sustainability of these high revenue figures. The novelty of online sports betting could wane, leading to a plateau in consumer interest. Additionally, increased competition may pressure operators to offer more promotions and bonuses, potentially reducing profitability.
Another consideration is the social impact of widespread gambling. As access to online betting becomes more convenient, there is a growing concern about the potential for gambling addiction and its societal consequences. Lawmakers and regulators may need to implement more robust measures to address these issues, which could affect the industry’s growth trajectory.
In conclusion, New York’s online sports betting industry is thriving, setting new records and capturing significant market attention. The state’s success is part of a broader national trend towards legalization and expansion of sports betting. However, the industry must carefully navigate regulatory challenges and address social risks to ensure sustainable long-term growth. As New York continues to lead the way, other states are likely to look to its experiences as a model for their own sports betting initiatives.
