April Revenue Insights
NEW YORK, NY. - July 10, 2025
New York's online sportsbooks generated $192.7 million in gross revenue from $2.15 billion in handle during April 2025, translating to a staggering $98.3 million in tax revenue.
The figures, published by the New York State Gaming Commission, reflect the market’s strong retention and engagement, with an 8.95% hold rate in April, well above the year’s lowest mark of 6.63% recorded in March. With the state’s 51% tax rate on GGR, New York has now collected more than $401 million in taxes in just the first four months of 2025.
Despite licensing only nine online sportsbooks, New York remains the largest sports betting market in the country by both handle and tax contributions. Operators include FanDuel, DraftKings, Caesars Sportsbook, BetMGM, BetRivers, ESPN BET, Fanatics Sportsbook, Bally Bet, and Resorts World.
Comparing Performance Across State Lines
In New Jersey, with 13 licensed sportsbooks and a longer regulatory history, it handled $994.4 million in April, generating $90.5 million in GGR and $12.9 million in tax revenue. New Jersey applies a lower tax rate of approximately 14% on mobile sports betting, and while it remains a strong market, the gap between the two states continues to widen.
| Metric | New York | New Jersey |
|---|---|---|
| Handle | $2.15B | $994.4M |
| GGR | $192.7M | $90.5M |
| Hold Rate | 8.95% | 9.10% |
| Tax Revenue | $98.3M | $12.9M |
| Effective Tax Rate* | 51% | ~14% |
*Effective tax rate = Tax Revenue ÷ GGR.
Operator Count and Market Impact
New York’s decision to limit the number of licensed operators has not curbed betting activity. It has led to concentrated market share among major national brands and a streamlined regulatory structure. This stands in contrast to more open markets such as Colorado or New Jersey, where dozens of platforms compete for customer attention, often with aggressive promotions that reduce long-term margins.
The sustained volume in New York suggests that scale and population, not operator count, are the more decisive factors in revenue generation. With more than 20 million residents, multiple professional sports franchises, and widespread mobile adoption, the state’s infrastructure supports continued growth.
New York’s April figures reaffirm the strength of a high-tax, high-volume model in a large, sports-driven market. With total handle exceeding $9 billion through the first four months of the year, the state remains on track to surpass its 2024 performance and retain its position as the benchmark for regulated sports betting in the United States.
