New York’s October Sports Betting Handle Hits $2.6 Billion, Setting New US Record

New York sports betting reached unprecedented heights in October, with the New York State Gaming Commission announcing a $2.64 billion mobile wagering handle—a new single-month record not just for the state, but the entire US market.

While October’s retail sportsbook data is still pending, the mobile numbers alone have already eclipsed previous benchmarks, handily exceeding the prior peak of $2.49 billion set back in January. This impressive performance marks the third consecutive month that New York’s eight licensed mobile operators have surpassed $2 billion in monthly wagers — not counting the handle generated by offshore sportsbooks in the same time period.

Mobile betting volume soared by 13.9% year-over-year, fueled by two separate weeks (ending October 26 and November 2) each generating over $650 million in bets. Additional weeks in October also landed among the state’s top 10 all-time weekly handles, reflecting a sustained surge in wagering activity.

Revenue, Tax Haul, and Year-to-Date Milestones

Operators posted a robust hold rate above 9%, resulting in $238.7 million in gross revenue for October—a jump of 35.4% compared to the same month last year. The higher win percentage contributed to year-to-date revenue climbing past $2 billion, putting the state within striking distance of its entire 2024 total with two months left in the year. Since the launch of mobile wagering in January 2022, New York’s operators have now earned more than $7.1 billion.

October’s strong revenue translated into $121.8 million in state tax receipts, propelling New York’s annual tax collections to a record-shattering $1.05 billion for 2025—already ahead of last year’s total by $5.5 million.

FanDuel: The First To $1 Billion in Monthly Mobile Handle

FanDuel further cemented its leadership position in New York, becoming the first sportsbook to surpass the $1 billion mark in monthly handle. Finishing October at $1.006 billion—just $5.9 million above the milestone—FanDuel eclipsed its previous record set last January.

The platform’s handle share rose to 38.1% from 34.5% in September, even with an overall handle increase of 10.8% year-over-year. Revenue for FanDuel reached $100.6 million, thanks to a 10% hold, marking a 30.1% boost compared to last year and its third time crossing nine figures in the last 12 months.

ESPN Bet to Exit NY As Market Share Struggles

Amid news that Penn Entertainment and ESPN Bet are dissolving their $2 billion partnership after just two years, ESPN Bet has struggled to make ground in New York’s competitive market. With a record monthly handle of $60.3 million in October, the platform accounted for only 2.3% of the state’s mobile handle and never broke the 3% monthly market share threshold.

Despite an impressive 47.7% increase in handle from the previous year, revenue growth lagged with only a 5.3% improvement. With revenue yet to surpass $50 million since entering the market, ESPN Bet appears set to exit New York as it failed to gain significant traction.

Key Operator Highlights: DraftKings, Fanatics, BetMGM, Caesars, BetRivers

DraftKings Shatters Its Handle Record

DraftKings set its own all-time best with $938 million in wagers for the month, up 15.3% from last year. Although market share edged upward to 35.5%, the operator saw an even stronger revenue performance—$82.9 million, up 40.8% year-over-year, fueled by an 8.8% hold rate.

Fanatics Sees Volatility

Fanatics’ handle slid to $205.7 million, dropping to a year-low 7.8% share, despite a 15.3% climb over last October. Over the past two months, its combined action of $424.7 million lags its $565.8 million peak in August. However, a 50.8% leap in revenue took Fanatics to $18.7 million for October, aided by a jump to a 9.1% hold.

BetMGM and Caesars Solidify Position

BetMGM reached a 7% handle share for the first time since July, taking in $187.5 million in bets with a healthy 7.7% win rate, pushing revenue up 51.5% to $14.4 million. Caesars rounded out the top five with $13.2 million in revenue on $175.8 million in accepted wagers, marking growth of 21.3% year-over-year.

BetRivers Notches Strongest Month in Nearly 2 Years

BetRivers posted $4.4 million in revenue—its most profitable month since November 2023—thanks to an 8.3% hold on $53 million in accepted bets.

Conclusion: New York’s Sports Betting Boom Shows No Signs of Slowing

With back-to-back record-breaking months, New York continues to dominate the US legal sports betting landscape. FanDuel and DraftKings’ commanding performances lead the way, while operators like ESPN Bet reconsider their strategies. With annual tax revenues smashing previous marks and year-to-date operator revenue poised to set new highs before year’s end, the Empire State’s sports betting market remains a benchmark for industry success.