New York Sports Betting Slows in July as Handle Hits 12-Month Low

Consumer spending on online sports betting in New York fell to a 12-month low in July, according to the New York State Gaming Commission. This marked the lowest monthly total since July of last year, when $1.27 billion was wagered. The figure also represented a 15.2% decline compared to the $1.65 billion spent on sports betting in June of this year.

New York Sports Betting Revenue Dips

Gross gaming revenue (GGR) from sports betting reached $155.8 million in July, and users spent a total of $1.4 billion. This was a 10.6% increase compared to July 2024 but marked a 24.8% decline from June of this year, which saw a GGR of $206.5 million, and a $1.65 billion spent on sports betting as a whole. In New York State, sports wagering gross gaming revenue is reported on a cash basis. This means bets placed on future events are taxed as current revenue, while payouts for winning bets are recorded in the period when they are redeemed.

These numbers are not entirely unexpected as there’s usually a summer slowdown in seasonal sports at this time of year. However, the year-on-year decline in online sports betting is still quite significant. For the week ending July 13, New York’s online sportsbooks saw a 9.4% year-over-year decline in betting volume, generating $328.7 million in wagers, which is also down 7.2% from the prior week. 

Here’s a Breakdown of Operator Gains

Among operators, Flutter-owned FanDuel remained the revenue leader in July, generating $61.4 million from a $476.9 million handle. This reflects a strong 12.87% hold in the market. Perhaps it should not come as a surprise that FanDuel is currently leading in New York in terms of revenue, considering the company recently reported a highly profitable Q2, showing growth in many markets.

DraftKings came in second, despite having a higher betting handle than FanDuel. It recorded $52.5 million in revenue from $509.4 million in wagers, which resulted in a 10.31% hold.

Fanatics ranked third, earning $13.9 million from $137.7 million in bets, with a 10.09% hold. BetMGM followed with $10 million in revenue from a $98.1 million handle and a 10.19% hold. Caesars rounded out the top five, bringing in $9.7 million from $97.9 million, for a 9.91% hold.

Meanwhile, ESPN Bet posted $3.9 million in revenue on $37.1 million wagered, achieving a 10.51% hold. Rush Street Interactive was the only other operator to surpass $1 million in revenue, reporting $3.4 million from $35 million in bets with a 9.71% hold.