In a groundbreaking second consecutive month, New York has set a new online sports betting record. Operators brought in $211.5m (£167.5m/€196.1m) in January, marking a 12.3% increase from December 2023. This number was also an impressive 41.6% more than the $149.4m generated in January of the previous year.
During January, players wagered a total of $1.96bn, which was a 9.5% increase from January 2023. However, this amount is 3.9% less than December’s $2.04bn and 6.7% behind the record set in November 2023. Although January marked the end of New York players spending over $2.00bn betting on sports online for three consecutive months, the state initially surpassed the $2.00bn milestone in October 2023.
Flutter Entertainment’s FanDuel claimed a new state record, generating $109.2m in online betting revenue in January. This makes it the first time any licensees reported more than $100.0m in one month. FanDuel handled $867.1m in wagers, solidifying its position as the top operator.
DraftKings followed FanDuel, bringing in $71.0m in revenue, marking its highest monthly total to date. Other operators, such as Caesars, BetMGM, and DraftKings, also saw significant revenue and handle numbers.
Despite the impressive growth in the online sports betting market, the future of online gaming in New York faced a setback. Governor Kathy Hochul did not include online gaming in her 2025 executive budget, despite Senator Joseph Addabbo’s filing of a revised igaming bill. The bill remains at the committee stage in the New York Senate. However, Hochul did make a provision to extend several betting and wagering law provisions for one year. Despite the exclusion of igaming, the extension indicates a positive outlook for the future of online gaming in New York.