The Nation’s Largest Sports Betting Market

Since its January 2022 launch, New York has consistently outpaced every other state in both handle and tax collections. The sheer size of its population, combined with a deep sports culture spanning the Yankees, Mets, Giants, Jets, Knicks, Nets, Rangers, Islanders, and college programs, makes New York uniquely capable of sustaining billion-dollar months year-round.

Through the first seven months of 2025, New Yorkers wagered over $13.1 billion, producing $1.45 billion in operator revenue and nearly $740 million in tax revenue.

July Performance Since Launch

In just three years, July handle has nearly tripled, while tax revenue has grown almost threefold, cementing New York’s position as the top tax generator in U.S. sports betting.

Track New York's Sports Betting Revenue

2025

Created with Highcharts 11.4.8In USD 

Data is pulled directly from the New York State Gaming Commission Monthly Reports

The 51% Tax Rate: Costly but Unmatched

New York’s 51% tax on GGR is by far the highest in the nation. While operators often argue that the rate constraints profitability and reduces promotional flexibility, the sheer scale of the market makes it impossible for national brands to ignore.

Even after deducting promotions (which are capped under New York’s rules), July still yielded over $104 million in tax revenue, more than Pennsylvania and Ohio combined for the same month.

This structure prioritizes public funding over operator margins. Unlike most states, New York channels nearly all betting taxes into education funding, alongside allocations for youth sports and problem gambling programs.

Online Giants vs. Retail Casinos

July’s revenue also highlighted New York’s digital dominance. Online operators handled virtually all wagers, while the state’s retail sportsbooks contributed just $2.3 million in handle and $317,000 in GGR.

This imbalance shows New York’s identity as a mobile-first market, where competition between giants like FanDuel, DraftKings, Caesars, BetMGM, ESPN BET, and Fanatics defines the playing field.

A Market Built for Scale

The combination of population size, cultural sports dominance, and a high tax rate makes New York unique. The cost of doing business is steep, but the rewards are unmatched. With football season approaching, handle is expected to surge past $2.5B monthly, pushing annual totals well beyond $20B in wagers and $1.1B in tax revenue.

Source: RG.org