New York Sees Record High Sports Betting Handle in January

Michael Savio
By: Michael Savio
02/12/2025
Sports Betting
Photo by Elbert Hampton, CC0, via Wikimedia Commons
Photo by Elbert Hampton, CC0, via Wikimedia Commons

Key Takeaways

  • New York saw around $2.5 billion wagers in January
  • The NFL and CFP accounted for the majority of wagers for the month
  • FanDuel led all operators in handle and revenue

New York’s sports betting market continues to shatter records.

The New York State Gaming Commission has reported a handle of almost $2.5 billion for January. The massive month comes after the state saw a record-setting 2024, showing that the market has yet to find its ceiling. The previous monthly sports betting handle record was set in October 2024, with over $2.3 billion in wagers.

New York’s January sports betting handle is the highest of any US market.

NFL and College Football Led to Spike

The majority of January wagers involved the NFL and College Football Playoffs (CFP). While the state’s teams weren’t competing, residents still flocked to their favorite sportsbooks to bet on the games. This led to a massive total and set the stage for a record-breaking start to 2025.

One big reason for the extra boost in January 2025 was the expansion of the CFP. The tournament was expanded to 12 teams, meaning more big games for fans to bet on. The expanded format seems to be here to stay, so January should continue to be a strong month for sports betting.

New York Market Continues to Grow

We know that New York is the largest sports betting market in the US, but we still don’t know where its ceiling is. A record-setting start to 2025 shows us that the market is still growing, setting new records at an incredible pace.

The state also set a record in gross gaming revenue at $247 million. This has increased the state's revenue, as its 51% tax rate on operators is the highest in the country. 

FanDuel and DraftKings Continue to Dominate

FanDuel and DraftKings once again dominated the New York market share in 2024. FanDuel outperformed its top rival, leading the market with over $24 billion in wagers since the January 2022 launch. 

DraftKings is hoping the script will be flipped in 2025. The operator is rolling out a new parlay subscription service that targets FanDuel customers. Some DraftKings bettors can access this service to get odds boosts and other parlay bonuses. The bet type has been incredibly popular with American bettors, meaning this unique service could help change the balance of power in New York.

Michael Savio covers the US online casino industry, giving readers insights and information they won’t find anywhere else. He has followed the retail industry since his time living in Las Vegas and has continued to do so as the online industry has taken off. Michael covers everything from online casino reviews to industry news, making him one of the most trusted insiders in the business. Check out Michael’s latest articles at casinos.com to see what he has to offer!