New York’s online sports betting market posted another milestone in November, as state regulators reported all-time-high revenue figures driven by strong results from the largest operators and a surge of holiday-week wagering. Reports released by the New York Gaming Commission and industry trackers show that sportsbooks collectively generated between $231.6 million and $280.5 million in gross revenue for the month, depending on how revenue was categorized in the individual summaries. While methodologies differ across reports, each one underscores that the Empire State set a new benchmark for operator earnings.
The eight licensed online sportsbooks handled between $2.27 billion and $2.61 billion in wagers during the month. Both totals reflect year-over-year growth compared to November 2023, even as the handle remained slightly short of October’s all-time record. A hold above 10% contributed significantly to operator gains, with one report noting a 10.7% hold on a $2.61-billion handle that produced $280.5 million in combined revenue.
FanDuel and DraftKings Extend Their Lead
FanDuel and DraftKings remained the dominant players in New York, each setting new monthly highs. FanDuel broke the state’s individual operator revenue record, bringing in $131.9 million on a $1-billion handle, representing a 28.5% year-over-year rise. DraftKings also reported its strongest month to date with $89.1 million in revenue from a $916.3-million handle, according to state data.
Another summary quantified market share by noting that “FanDuel being around $25 better off than DraftKings in terms of revenue,” with FanDuel holding at 11.14% and DraftKings at 10.35%. Both sources agreed that FanDuel led the state and that the two top operators accounted for the majority of monthly profits.
Fanatics Sportsbook continued its upward trajectory. One report highlighted that the operator posted $22.9 million, its highest total since launching in early 2024, along with its fourth straight month of at least $200 million in wagers. Another summary placed Fanatics at $13.8 million in revenue on a $170.2-million handle, as different tracking periods and accounting structures contributed to the variance across reports.
Caesars and BetMGM also turned in strong months. Reported revenue for Caesars ranged from $14 million to $14.2 million, while BetMGM’s figures fell between $13.5 million and $14.4 million depending on the dataset. Both operators benefited from increased activity around football and basketball during the busy November calendar.
Newer market entrants showed progress as well. ESPN BET recorded $3.9 million in revenue from a $56.5-million handle in one breakdown, while another listed the platform with $4.3 million in revenue and a $47.6-million handle, marking its best month to date.
Thanksgiving Week Lifts Statewide Wagering
Holiday scheduling contributed to the surge. The week ending November 30 produced a statewide handle of $637.5 million, a jump of 18.6% from the previous week. All three NFL underdogs winning on Thanksgiving helped operators deliver an 11.4% hold for the period, leading to $72.5 million in weekly gross revenue — the highest mark since early November.
FanDuel led that week with a $246.8-million handle, up 18% week over week. DraftKings followed with $217.4 million, rising 20.2%. Together, the two operators generated nearly 80% of all weekly sportsbook revenue.
Year-to-Date Impact and Outlook
High hold rates and a steady stream of wagers helped New York raise a record $143 million in taxes for November alone, bringing the state’s total for the year to more than $1.19 billion at the 51% tax rate on operator revenue.
Industry analysts noted that Thanksgiving typically delivers a lift in wagering that December does not always match. Even so, observers suggested the upcoming holiday period — including a widely anticipated NFL broadcast on Netflix — could draw strong engagement.
