New York’s online sports betting market recorded its strongest April to date, as the state’s nine licensed operators collectively took in $2.15 billion in wagers and generated $192.7 million in gross gaming revenue (GGR), according to official figures from the New York State Gaming Commission. These results reflect a 9.6% rise in betting volume compared to April 2024 and a 4.8% annual increase in revenue, marking a solid start to the Empire State’s new fiscal year.

New York sees record-breaking April for online sports betting:

The hold percentage for the month stood at 8.9%, a slight dip from April 2024’s 9.3%, but still sufficient to drive meaningful growth after a less favorable March. Compared to the previous month, April’s revenue surged 19.1% despite a lower total handle than March’s near-record $2.44 billion. The rebound came largely on the back of high-profile sporting events, including the NFL Draft and NBA and NHL Playoffs, which helped stabilize margins for sportsbooks following losses during the NCAA basketball tournament.

FanDuel maintained its lead as the top performer in New York, posting an $822.5 million handle and securing $84.8 million in revenue. That marked a significant improvement from its March earnings of $62.6 million and was the sportsbook’s sixth month in seven with over $800 million in total wagers. DraftKings followed with a handle of $727.3 million and revenue of $66.8 million, supported by a 9.2% hold rate that yielded a $7.4 million month-over-month increase.

As Covers reports, Fanatics Sportsbook claimed the third spot in betting volume with $175.6 million, while its revenue slightly declined to $12.5 million. Caesars reported $9.7 million in April GGR from a $153.4 million handle, and BetMGM posted $11.2 million in revenue from $154.1 million in bets. ESPN BET edged past BetRivers with a $56 million handle—its second-best since debuting in September 2024—and earned $3 million in GGR.

According to data from the wagering report published by New York Gaming Commission, six operators improved their gross revenue over March, suggesting a market recovery after the previous month’s downturn. In March, sportsbooks collected $161.8 million in GGR—one of the lowest figures of the 2024 fiscal year, beaten only by summer lulls and a highly favorable December for NFL bettors.

Weekly snapshot: FanDuel dominates early May amid NBA upsets:

For the week ending May 4, betting activity in New York slightly cooled with a total handle of $480.2 million—one of only three weeks in the past ten to fall below the half-billion-dollar mark. However, a surprising series of NBA Playoff results helped operators post a strong 10.8% hold, resulting in $51.9 million in weekly revenue. That was just under the $56.9 million collected the week before from a higher handle of $526 million.

FanDuel again led the charge, producing $26.2 million in weekly revenue from $180.6 million in wagers—an increase in profit despite a decline in betting volume. Caesars was the only other operator to post an uptick in week-over-week profit. DraftKings saw the second-highest weekly handle at $163.9 million, but its GGR slipped by nearly $5 million.

While operators celebrated robust April numbers, the state’s sports betting ecosystem also drew renewed attention from legislators. A bill introduced by Assemblymember Robert Carroll proposes setting a daily deposit cap of $5,000, prohibiting credit card deposits, and limiting the use of promotional language such as “bonus” or “no sweat” in sportsbook marketing. The bill is currently under review by the Assembly Committee on Racing and Wagering.

Since legal mobile betting launched in January 2022, New York has amassed over $6.5 billion in cumulative GGR and channeled nearly $3.2 billion in net revenue into the state’s education system. In 2024 alone, mobile sports wagering contributed more than $1.1 billion toward education funding, including youth sports and responsible gambling initiatives.