New York sportsbooks lowered the volume on a talking point of prediction markets cutting into traditional action, as the state gaming commission reported $2.09 billion in total handle for February.
Total handle nationwide for the month is $15.6 billion thus far, up 0.6% when comparing like-for-like state revenue reports from 2025. The number would actually be down slightly when excluding Missouri, which launched December 1. Some have attributed the lack of handle growth compared to years past to prediction markets, which included a reported $7.5 billion worth of contracts traded on Kalshi in February.
After a 1.6% downturn in January to a still-robust $2.49 billion, wagering in the Empire State was up 5.6% over the previous February. Handle also surpassed $2 billion for a record-setting seventh consecutive month.
The 8.5% statewide hold resulted in $177.6 million in revenue, which was down 3.7% from last year. It was the first time since October the collective win rate was below 10%, and it was the lowest since landing at 6.6% in March 2025. The state saw an inflow of $90.5 million in receipts to its coffers, and the $1.2 billion collected heading into the final month of Fiscal Year 2025-26 is nearly $280 million above the $921 million forecast by the New York State Division of the Budget.
BetMGM’s Super Bowl swings continue
No mobile sportsbook in New York has had year-to-year fluctuation for Super Bowl revenue like BetMGM. Its $938,128 in net revenue for this year’s event was down 80.2% from 2025 and included absorbing a $1.7 million loss on futures. That was also enough to drag its overall monthly hold below 2.5% for the third time in five Februarys since the Empire State launched sports betting.
| Year | Handle | Revenue | Overall Hold | Year-Over-Year Revenue Change | Super Bowl Revenue |
|---|---|---|---|---|---|
| 2022 | $154,697,988 | $3,521,783 | 2.28% | N/A | N/A |
| 2023 | $107,686,710 | $7,539,737 | 7.00% | 114.1% | $367,934 |
| 2024 | $129,700,094 | $580,224 | 0.44% | (92.3%) | ($4,813,246) |
| 2025 | $130,227,699 | $11,839,506 | 9.09% | 1,940.5% | $4,745,134 |
| 2026 | $176,851,842 | $4,210,849 | 2.38% | (64.4%) | $938,128 |
| TOTALS |
FanDuel posted its fourth consecutive monthly hold of 11% or better, but the $80.1 million in winnings represented a 13.5% decline from 2025, as its win rate was 1.5 percentage points lower. The digital leviathan led the group of eight operators with $726.8 million handle, down 1.6% from a year ago.
DraftKings rode the strength of its Super Bowl performance to an 18.7% gain in revenue from the previous year to $61.3 million. Inverse to its eternal rival, DraftKings’ 8.7% hold was 1.5 percentage points higher than February 2025.
Fanatics not only finished third in handle with $229.7 million, it looked to have claimed a double-digit share of digital wagering for the first time in the Empire State without a “whale” making large bets. Action was up 43.1% from last year and represented 11% of the $2.09 billion handle generated by the eight operators. Fanatics finished with a decent 8.1% hold and the $14.4 million in revenue was up 30.6%.
Checking the others
Despite having a modest 6.6% hold, it was the second-best for Caesars in the month of February in New York. Revenue slid 9.6% to $9 million, despite a 6.5% uptick in wagering to $137 million.
BetRivers, meanwhile, posted all-time February highs of $4.2 million in winnings and $50.1 million worth of wagers accepted. It was the first time BetRivers topped $50 million handle in three consecutive months in New York, and revenue surged 49.4%, as the 8.3% win rate was up 1.7 percentage points from 2025.
The first three months of theScore Bet’s operation in New York compared to predecessor ESPN Bet are favorable in general. The Penn Entertainment-run sportsbook also had a 6.6% hold in claiming only $3.2 million in February, which was down 17.7% from ESPN Bet’s $3.8 million haul.
But theScore Bet’s $11.1 million in winnings for its first three months is 46.7% higher than ESPN Bet, despite a slightly lower handle of $144.4 million to ESPN Bet’s $151.1 million. Thus far in New York, theScore Bet has a 7.7% hold compared to ESPN Bet’s 5% win rate in its first three full months spanning December 2024 to February 2025.
Bally Bet also had its best February on record, with revenue more than doubling from last year to $1.1 million. Handle nearly doubled as well, going from $7.2 million to just shy of $14 million.
