According to data released Monday by the New York State Gaming Commission, New York’s mobile sportsbooks recorded $204.2 million in gross gaming revenue (GGR) in May, representing an 18% decline compared with May of the previous year.
Operators Record Low Performance This Month
The state received $104.1 million in tax revenue during the month, which marked the second month of New York’s 2026–27 fiscal year. The revenue decline was driven less by betting activity and more by operator performance.
Bettors placed $2.13 billion in wagers across the state’s eight mobile sportsbooks, which is a modest 3.6% decrease from the $2.21 billion wagered in May 2025. However, sportsbook hold rates fell significantly, with the statewide win rate dropping to 9.6% from 11.3% a year earlier.
The decline in GGR is more paradoxical when one considers the fact that the practice has been growing in popularity in the state. In fact, this has even sounded the alarm in some lawmakers, as recently they suggested a new legislation to study the potential risks of prop bets, which have seen a rapid increase in popularity in New York State.
Here’s a Detailed Breakdown of the Operators’ Revenue
FanDuel and DraftKings accounted for approximately 69% of total betting handle in May. Six of New York’s eight mobile sportsbook operators reported lower revenue compared with the same month last year, while only Fanatics and Bally Bet posted year-over-year gains. Cumulative mobile sports betting handle in New York has exceeded $95 billion.
DraftKings generated $706.5 million in handle and $66.5 million in revenue during May, resulting in a 9.4% hold rate. Compared with May 2025, revenue declined 21%, while handle fell 10%.
FanDuel remained the market leader, recording $767.8 million in handle and $88.7 million in revenue, supported by an 11.6% hold rate. Its revenue decreased roughly 18.5% year over year. It should be noted that these figures were not explicitly stated by the New York State Gaming Commission, but are instead derived from subtracting out the remaining operators.
Fanatics was one of only two sportsbooks to report year-over-year revenue growth in May. The operator handled $249 million in wagers, a 30.6% increase from $190.6 million in the same month last year. Revenue reached $18.3 million, representing a 1.8% increase, with a hold rate of 7.3%.
BetMGM recorded an increase to $166.2 million in handle, representing a 3.1% increase from the previous year. Despite the higher betting volume, its 8.1% hold rate produced $13.4 million in revenue, down 8.7% year over year.
Caesars, meanwhile, wasn’t so lucky as it posted the steepest revenue decline in the market at a drop of 6.5%, resulting in a revenue of $9.8 million, a 28.6% drop from May 2025.
BetRivers posted a 6.9% hold rate, while revenue declined 24.7% compared with the same period last year. Meanwhile, theScore Bet, owned by Penn Interactive, recorded a revenue 19% lower than the amount reported by predecessor ESPN Bet in May 2025.
Finally, Bally Bet delivered its strongest May performance to date, recording $14.1 million in handle, up 17.3% from a year earlier, while revenue surged 77.3% to $1.1 million.
In other news from New York, the state considers prohibiting billboard gambling ads, something that might have an impact on sports betting as well.