New York Sports Betting Shows Revenue Decline in May
Significant Revenue Decrease in May for New York Sportsbooks
Recent data from the New York State Gaming Commission reveals that mobile sportsbooks in New York generated $204.2 million in gross gaming revenue (GGR) during May. This figure marks an 18% decrease compared to the same month last year.
Declining Revenue Driven by Operator Performance
In May, the state collected $104.1 million in tax revenue, marking the second month of the 2026–27 fiscal year. The overall revenue drop appears to stem more from sportsbook operator difficulties than a significant change in betting activity.
Bettors placed a total of $2.13 billion in wagers across eight mobile sportsbooks, a slight 3.6% decline from the $2.21 billion wagered in May 2025. However, the hold rate for sportsbooks fell noticeably, with the statewide win rate decreasing from 11.3% to 9.6% year-over-year.
Despite the decline in revenue, sports betting continues to gain traction in New York. This growth has prompted lawmakers to consider new legislation aimed at evaluating the risks associated with prop bets, which have recently surged in popularity.
Breakdown of Revenue Among Operators
FanDuel and DraftKings dominated the market, together accounting for about 69% of the total wagers placed in May. Out of New York’s eight mobile sportsbook operators, six reported lower revenues compared to the previous year, while Fanatics and Bally Bet were the only ones to see year-over-year gains. The total mobile sports betting handle in New York has surpassed $95 billion to date.
DraftKings handled $706.5 million in bets and generated $66.5 million in revenue during May, corresponding to a 9.4% hold rate. Compared to May 2025, their revenue fell by 21%, and the betting handle dropped 10%.
FanDuel led the market with a $767.8 million handle and $88.7 million in revenue, achieving an 11.6% hold rate. Its revenue declined approximately 18.5% compared to the prior year. Note that these figures were extrapolated from the overall data as specific amounts were not explicitly detailed by the Commission.
Fanatics was one of the few operators to report growth, increasing its wagering handle by 30.6% to $249 million over May 2025. Revenue modestly rose by 1.8% to $18.3 million, with a hold rate of 7.3%.
BetMGM experienced a 3.1% increase in betting handle, totaling $166.2 million, but a lower hold rate of 8.1% led to $13.4 million in revenue—a decrease of 8.7% from the previous year.
Caesars recorded the steepest revenue drop among operators, with a 28.6% decline to $9.8 million in revenue, translating to a 6.5% revenue decrease for the market.
BetRivers saw its hold rate at 6.9%, with revenue dropping 24.7% year-over-year. TheScore Bet, owned by Penn Interactive, reported a 19% lower revenue compared to its predecessor ESPN Bet’s May 2025 figures.
Bally Bet posted its best May results yet, with a 17.3% increase in handle to $14.1 million and a remarkable 77.3% jump in revenue to $1.1 million.
Additional Regulatory Considerations
Separately, New York is contemplating banning billboard advertisements for gambling, a move that could further influence the sports betting landscape in the state.
