Key Takeaways
- Revenue from New York’s mobile sportsbooks reached $204.2 million in May, marking an 18% year-over-year decline
- Total wagers hit $2.13 billion, while the hold rate dropped from 11.3% to 9.6%
- Industry leaders FanDuel and DraftKings both experienced revenue decreases
- Only Fanatics and Bally Bet recorded year-over-year revenue growth among operators
- New York’s tax revenue from sports betting reached $104.1 million in May
Mobile sports betting operators in New York generated $204.2 million in gross gaming revenue during May 2026, representing an 18% decrease from the previous year’s results.
The downturn wasn’t caused by reduced betting activity. Bettors placed $2.13 billion in wagers through the state’s eight licensed operators, only marginally lower than the $2.21 billion recorded in May 2025.
The primary factor behind the revenue drop was the hold percentage. Operators retained just 9.6% of total wagers in May, compared to 11.3% during the same period last year. This compressed margin directly impacted overall revenue performance.
The state’s sports betting tax collections totaled $104.1 million for May, representing the second month of New York’s 2026–2027 fiscal year.
Market Leaders FanDuel and DraftKings Experience Downturns
FanDuel maintained its position as New York’s dominant operator, processing $767.8 million in wagers and generating $88.7 million in revenue with an 11.6% hold percentage. However, revenue decreased nearly 19% compared to the prior year.
DraftKings secured second place with $706.5 million in handle and $66.5 million in revenue. The platform experienced more significant declines, with revenue falling 21% and wagering volume decreasing 10%.
Combined, these two platforms accounted for approximately 69% of all betting activity in New York during May.
BetMGM recorded a modest handle increase to $166.2 million, though revenue declined nearly 9% to $13.4 million.
Caesars experienced the most dramatic revenue contraction among major operators. Wagering volume decreased 6.5% to $142.4 million, while revenue plummeted nearly 29% to $9.8 million.
Fanatics and Bally Bet Post Positive Results
Fanatics emerged as one of the few success stories in the report. Its handle surged more than 30% to $249 million, while revenue climbed 1.8% to $18.3 million despite a 7.3% hold rate.
Bally Bet delivered its strongest May performance on record. Handle increased 17% to $14.1 million, and revenue jumped 77% to $1.1 million. Even with these impressive gains, Bally Bet continues to represent a minor market share.
BetRivers posted $44.1 million in handle and $3.1 million in revenue, reflecting a nearly 25% decline.
Penn Interactive’s theScore Bet platform logged $42.6 million in wagers and $3.2 million in revenue, both figures trailing what ESPN Bet produced a year earlier under the same operating license.
Six out of eight operators in New York’s market reported decreased revenue compared to May 2025.
Fanatics and Bally Bet were the sole operators posting year-over-year revenue increases.
Since New York authorized mobile sports betting, cumulative wagering activity has now exceeded $95 billion.
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