TLDR New York mobile sportsbooks made $204.2 million in May, down 18% from last year Bettors wagered $2.13 billion, but the hold rate fell to 9.6% from 11.3% FanDuel and DraftKings still dominate, but both saw revenue declines Fanatics and Bally Bet were the only two operators to grow revenue The state collected $104.1 million in tax receipts for May
New York’s mobile sports betting market brought in $204.2 million in gross gaming revenue in May 2026. That is an 18% drop compared to May 2025.
The decline was not about fewer bets. Players wagered $2.13 billion across eight operators, just slightly below the $2.21 billion from a year ago.
The real shift was in the hold rate. Sportsbooks kept 9.6% of all wagers in May, down from 11.3% in the same month last year. That lower hold rate is what hit revenues hard.
New York collected $104.1 million in tax from sports betting in May. It was the second month of the state’s 2026–2027 fiscal year.
FanDuel and DraftKings Still Lead, But Both Declined
FanDuel remained the top operator in New York. It handled $767.8 million in bets and earned $88.7 million in revenue at an 11.6% hold. But revenue was down nearly 19% year over year.
DraftKings was second, taking $706.5 million in bets and $66.5 million in revenue. Its declines were steeper, with revenue falling 21% and handle dropping 10%.
Together, the two companies handled about 69% of all bets placed in New York in May.
BetMGM saw its handle grow slightly to $166.2 million, but revenue slipped nearly 9% to $13.4 million.
Caesars had the sharpest revenue drop among major players. Wagers fell 6.5% to $142.4 million, and revenue dropped nearly 29% to $9.8 million.
Fanatics and Bally Bet Buck the Trend
Fanatics