New York Sports Betting Market Kicks Off 2025 With Record-Breaking January

The Empire State has kicked off 2025 with a bang.

The New York State Gaming Commission (NYSGC) reported around $2.5 billion in wagers in January. That breaks the previous record, which was set in October 2024. January’s impressive total is the highest sports betting handle of any state in the country.

Most of January’s wagers came from the NFL and College Football Playoffs. While New York teams weren’t competing for any titles, it didn’t stop residents from using their favorite sportsbooks to bet on football.

The impressive handle shows that the Empire State has yet to find its ceiling. Since launching in January 2022, the state has been the country's most profitable sports betting market and shows no signs of slowing down. With the country’s highest tax rate (51%) on operators, the state also brings in far more revenue than any other state with a legal sports betting market.

The state also set a record revenue for operators, $241 million. This was great news for sportsbooks, which saw their profits hit during the NFL season.

FanDuel Leads, But DraftKings May Be Coming

FanDuel has led the New York sports betting market since its launch in 2022, and it continued to dominate in January. The operator has seen over $24 billion in wagers since the beating out of DraftKings by over $4 billion. Its domination in the country’s top market has been impressive but may soon end.

DraftKings is beginning a new parlay subscription service in New York. The service would provide boosted odds, increasing any payouts. Americans have fallen in love with parlays since sports betting became legal, which means the new offering could help win over former FanDuel customers.

While DraftKings hopes the new parlay service will change the balance of power in New York, FanDuel remains the top option for bettors in the Empire State.