New York Online Sports Betting Handle Jumps 37.8% Hold as July Tax Revenue Tops $109 Million

New York’s online sportsbooks turned in a massive July, with the state’s eight licensed operators generating $214.4 million in gross gaming revenue on a $1.88 billion handle, according to figures released August 7 by the New York State Gaming Commission. The 11.4% hold rate — more than double June’s — pushed the state’s tax haul to $109.3 million for the month and drove year-to-date tax revenue past $725 million.

The swing marks a dramatic reversal from June, when New York bettors wagered a monthly-record $2.25 billion but sportsbooks kept just 5.19% of it, limiting operator win to $116.8 million and state taxes to $59.6 million. July’s handle came in lower at roughly $1.88 billion, but the tighter hold more than made up the difference, illustrating how much sportsbook profitability in a mature market like New York can swing month to month even when betting volume cools.

DraftKings and FanDuel Set the Pace

DraftKings led all operators in handle for the second straight July, taking in $661.5 million in wagers. Its hold came in at 10.3%, translating to $72.9 million in win. FanDuel wasn’t far behind on volume with $651.2 million in handle, but a stronger 13.2% hold rate pushed its revenue past DraftKings to $86.1 million, making it the top revenue generator in the state for the month.

Fanatics Sportsbook posted $221.6 million in handle and $21.1 million in revenue, while BetMGM ($138.3 million handle, $15.6 million revenue) and Caesars ($122.6 million handle, $11.4 million revenue) rounded out the next tier. theScore Bet posted the market’s lowest hold at just 8%, winning $2.5 million on $30.8 million in handle. The remaining smaller operators combined for $25.8 million in win on $273.5 million in aggregate handle, an average hold of 9.4%.

What the Tight Hold Means for State Revenue

New York taxes mobile sports wagering revenue at 51%, among the highest rates of any legal sports betting state, with proceeds directed largely toward education funding along with additional support for youth sports programs and problem gambling treatment. That steep rate means every swing in sportsbook hold has an outsized effect on what actually lands in state coffers — July’s roughly $50 million tax increase over June came almost entirely from the improved hold rather than from any meaningful jump in betting volume, since the handle actually declined from June’s record pace.

New York collected $1.32 billion in mobile sports betting taxes in all of 2025. With more than $725 million already banked through July of this year, the state remains on pace for another strong year, though the month-to-month volatility in hold rate — from a 5.19% low in June to an 11.4% rebound in July — underscores how unpredictable those totals can be from one reporting period to the next. Bettors chasing value in the market can compare current offers through the sportsbook promotions hub as operators continue competing for share in one of the country’s largest regulated markets.

A Market Still Growing Despite the Swings

Even with July’s handle dipping below the $2 billion mark for the first time in nearly a year, New York remains the largest legal mobile sports betting market in the country by tax contribution. The state’s 51% rate, combined with a deep bettor base and a full slate of major operators, continues to generate revenue figures far outpacing lower-tax states even in months when wagering volume slows. For bettors following the market, resources like the New York sports betting guide track which operators are live in the state and how their offerings compare.

The Gaming Commission’s monthly reports have become closely watched indicators of both market health and the operators’ underlying margins, and July’s rebound in hold gives sportsbooks a reminder that even a slower betting month can still produce a strong bottom line when the numbers break their way.