New York Sportsbooks Reap Record $281 Million In November

New York furthered its all-time, post-PASPA record for monthly sports betting revenue after the state’s gaming commission reported $281.3 million in operator winnings for November on Friday.

The eye-watering figure was up 21.1% from last year and shattered the Empire State’s previous standard of $249.3 million established in May. New York has recorded nine of the 10 instances of states reaching $200 million in monthly sportsbook revenue, with only Ohio’s $209 million claimed in its launch month of January 2023 spoiling a sweep.

The $2.61 billion wagered in November was the second-highest monthly handle of the post-PASPA era, trailing only October’s $2.65 billion wagered in New York, and represented a 14.9% increase from last year. The Empire State has exclusivity on $2 billion monthly handles, reaching the benchmark for the 15th time overall, and owns the top 29 monthly handles post-PASPA.

The state’s eight mobile sportsbooks and four commercial retail ones combined for a 10.8% hold, the fourth time this year they achieved a double-digit win rate. The 51% tax on mobile winnings led to one more monthly national record as New York’s tax coffers saw an inflow of $143.1 million worth of receipts.

FanDuel brings the hammer

Aside from March, when everyone took a beating due to chalk reaching the NCAA Tournament Final Four, FanDuel has spent 2025 pummeling New York sports bettors. November was its best month since launch in January 2022, ringing up a state-record $131.9 million in revenue while crafting a 13.2% hold on $1 billion worth of wagers. It was the sixth time FanDuel achieved a nine-figure monthly haul in the largest market in the U.S.

It was the ninth time FanDuel attained a double-digit hold this year and the fifth time it was above 12.5%. The digital leviathan has already eclipsed its full-year 2024 revenue total and entered the final month of 2025 just $18.4 million shy of $1 billion in winnings. It also has remitted more than $500 million in tax payments this year.

FanDuel’s November revenue surged 28.5% and outpaced the 8.6% bump in handle as its win rate improved more than two percentage points. FanDuel accounted for 47% of total mobile operator revenue, up 4.9 percentage points from October and 2.7 points from a year ago.

Eternal rival DraftKings also set an all-time high for New York-based revenue at $89.1 million, nearly $5 million better than its previous high set in May. It finished with a 9.7% hold on $916.3 million handle, marking the first time DraftKings surpassed $900 million worth of wagers in back-to-back months.

Like FanDuel, DraftKings has already cleared its 2024 revenue total and needs $29.5 million in December revenue to top $800 million for the calendar year.

A farewell to ESPN Bet

The end of November also brought an end to ESPN Bet, the result of a partnership with ESPN and Penn Entertainment being mutually terminated last month after less than two years. ESPN Bet had been in operation in New York for 14-plus months, having launched in September 2024, but never truly gained traction. It spent most of its time in the Empire State battling with BetRivers for seventh in handle when New York was at full strength with nine sportsbooks and rarely cracked the top five before Fanatics left it in the dust.

ESPN Bet limped out of New York, failing to reach the industry-standard 7% hold each of the final three months. It fell just short of that mark in November while reaping $3.9 million from $56.5 million worth of accepted wagers.

It never attained a 3% monthly mobile handle market share in the Empire State and ended at 2.3% for this year even after Resorts World shuttered its mobile operations at the end of June. ESPN Bet finished with $47 million-plus in winnings, crafting a 6.9% win rate against $680.9 million handle.

TheScore Bet, which began operations Dec. 1, is Penn’s second sportsbook in New York. Penn had already divested itself of ESPN Bet predecessor Barstool Sportsbook prior to entering the Empire State marketplace via purchase of Wynn Sports Interactive’s licenses for $25 million in February 2024.

Fanatics locks down third for 2025

Fanatics successfully built on its late momentum charge of 2024 throughout this year and has cemented its status as the No. 3 mobile book ahead of BetMGM and Caesars heading into 2026. Some of that can be attributed to the reported “whale bettor” that skewed its August figures higher, but Fanatics also has topped $200 million handle three months running since.

It had a record revenue haul of nearly $23 million in November, up 65.9% from last year, while posting a near-11% hold on $209.1 million worth of wagers. With $178.8 million revenue and $2.41 billion handle, Fanatics is all but certain to double 2024 totals it accrued with predecessor PointsBet. Fanatics also needs $21.2 million in the final month of the year to reach $200 million in winnings.

BetMGM ($138.1 million) entered December $9.5 million ahead of Caesars ($128.6 million) for fourth in year-to-date revenue, though Caesars won November by roughly $456,200. BetMGM has reached eight figures in revenue every month in 2025, but its $13.5 million won in November was down 6.3% year-over-year.

Caesars had a softer decline from November 2024 at 1.3%, but the near-$14 million in revenue was its second-highest total of 2025 behind the $15.8 million claimed in January.