In May, online sports betting in New York achieved an impressive monthly revenue milestone, recording $248.9 million in gross gaming revenue (GGR), as revealed by the New York State Gaming Commission’s latest figures. This amount exceeds the previous peak of $247 million set in January, marking a 0.8% growth.
Despite the increase in GGR, the betting handle for May fell from January’s $2.48 billion to $2.21 billion, representing a 10.8% drop. However, there was a year-on-year rise of 12.1% compared to the $1.97 billion wagered in May 2024.
The increase in GGR alongside the drop in handle indicates a higher operator win rate than the previous year, with May’s GGR last year totaling $203.3 million.
New York’s education fund benefited directly from the enhanced revenue performance. In May, $126.9 million was earmarked for education, a 22.4% increase compared to the contributions made in May 2024. Since the legalization of mobile sports wagering in January 2022, New York has generated over $6.5 billion in GGR and contributed more than $3.2 billion to educational initiatives.
Providers received $122 million from May’s total GGR, a substantial increase from April’s $94.4 million. These figures are part of the Commission’s fiscal year 2025/2026 report that monitors sports wagering revenue and its allocation across state funds.
FanDuel and DraftKings maintained their market dominance in April, a trend that is expected to continue in May, although specific provider data for the month is still pending release.
This record-breaking revenue month coincides with ongoing discussions among state lawmakers regarding additional regulations. A proposal introduced in April aims to limit deposit amounts and ban the use of credit cards for mobile sports betting transactions. This legislation remains under consideration.
As New York’s online betting sector expands in both revenue and tax contributions, regulators are keen to ensure a balance between market performance and responsible gambling practices.
As per the Gaming Commission’s documentation, a portion of the revenue allocated for education—$6 million annually—is specifically set aside for problem gambling education and treatment, while an additional $5 million is directed toward youth sports and education grant programs. Further monthly data for the fiscal year through March 2026 is anticipated to be released by the state.