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New York’s online sports betting market set a new high for gross gaming revenue in May, signaling strong player activity despite not reaching the all-time handle peak.
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Online sports betting in New York generated $248.9 million in gross gaming revenue (GGR) during May, narrowly edging out the previous record set in January. The monthly figure was 0.4% higher than January’s total and marked a 22.1% rise compared to the same month last year. Revenue also climbed 29.2% from April, according to data from the New York State Gaming Commission.
Total handle for May came in at $2.21 billion, making it the third straight month above the $2 billion mark. That number rose 11.6% year-over-year and increased by 2.3% from April. However, it still fell short of January’s record handle of $2.49 billion. The monthly hold rate stood at 11.23%.
FanDuel, part of Flutter, continued to lead all operators. With $803.1 million in bets, FanDuel earned $108.8 million in GGR for a 13.54% hold. DraftKings followed in second place, reporting $84.2 million from $785 million, delivering a 10.73% hold.
Fanatics rounded out the top three with $18 million in GGR on a $190.6 million handle, which translates to a 9.44% hold. BetMGM reported $14.7 million from $161.2 million, while Caesars posted $13.8 million from $152.3 million. Both recorded hold rates just over 9%.
Rush Street Interactive pulled in $4.1 million in revenue with a handle of $50.1 million, leading to an 8.51% hold. ESPN Bet closely followed, earning $4 million on $48.2 million in wagers, or an 8.3% hold.
Resorts World Bet and Bally Bet were the smallest contributors, with Resorts World Bet reporting $769,446 in GGR on a $9.1 million handle, and Bally Bet finishing at $631,019 from $12 million, with a lower 5.25% hold.