New York’s online sports betting market achieved a new revenue record in May, with gross gaming revenue (GGR) reaching $248.9 million. This milestone occurred as the state’s monthly handle surpassed $2 billion for the third consecutive month, underscoring continued strong player engagement.

The GGR figure for May narrowly edged out the existing record of $248 million, set in January of this year, by 0.4%. It also represented a substantial 22.1% increase year-on-year and was 29.2% ahead of April’s revenue, according to data released by the New York State Gaming Commission.

Player spending also saw an uptick, with the monthly handle in May hitting $2.21 billion. This figure surpassed the previous year’s total by 11.6% and was 2.3% more than April’s handle. However, the total fell 11.2% short of the all-time record of $2.49 billion wagered in January 2025. The monthly hold rate for New York stood at 11.23% in May.

FanDuel Retains Top Spot Among Operators

Looking at individual operator performance, Flutter’s FanDuel maintained its position as the market leader in New York’s online sports betting sector during May. The operator reported $108.8 million in GGR generated from an $803.1 million handle, resulting in a 13.54% hold.

DraftKings, which had temporarily taken the lead in March before slipping back to second in April, followed FanDuel. The operator posted $84.2 million in GGR from a $785 million handle, achieving a hold of 10.73%. Fanatics completed the top three, reporting GGR of $18 million off a $190.6 million handle, for a 9.44% hold.

Other operators also contributed to the state’s record performance. BetMGM reported GGR of $14.7 million from a $161.2 million handle, resulting in a 9.12% monthly hold. Caesars was close behind with $13.8 million in GGR from $152.3 million in handle, achieving a 9.06% hold. Rush Street Interactive generated $4.1 million in GGR off a $50.1 million handle, for an 8.51% hold in May. ESPN Bet was the only other operator to see GGR exceed $1 million, posting $4 million from $48.2 million, resulting in an 8.3% hold. Resorts World Bet took $769,446 from $9.1 million for an 8.41% hold. Finally, Bally Bet rounded off the market with $631,019 from $12 million in handle, leaving a hold of 5.25%.

The record revenue and continued high handle figures in May underscore the sustained strength and consumer engagement within New York’s competitive online sports betting market.