Players in New York spent $1.77bn (£1.38bn/€1.62bn) betting on sports online in February, while revenue in the Empire State amounted to $131.4m.
The February total was 20.4% higher than the $1.47bn bet in New York in the same month in 2023. However, it was 9.7% behind January’s $1.96bn and the lowest monthly amount since $1.76bn was spent in September 2023.
As for gross gaming revenue, this increased by 21.3% year-on-year to $131.4m, up from $108.3m in 2023. The February total was 37.9% less than $211.5m in January and also the lowest since $98.5m in August last year.
![](https://igamingbusiness.com/wp-content/uploads/2020/08/New-York_2.jpg)
Flutter Entertainment-owned FanDuel remains the market leader in New York. For February, it reported $63.4m in revenue from $720.1m, both of which were higher than any other operator.
Following in second was long-time rival DraftKings with $53.4m in revenue from $607.9m in bets.
Caesars was next in third, posting $6.7m in revenue and a $160.7m handle for the month. Rush Street Interactive followed with revenue of $3.0m from $46.9m in total bets.
Fanatics replaces PointsBet
The only other operator to post in excess of $1.0m in revenue was Fanatics. For February, Fanatics generated $2.9m in revenue in New York off $82.9m in bets.
Fanatics is the latest brand to launch in New York, officially going live in the Empire State on 1 March. The launch marks another latest phase of Fanatics’ acquisition of PointsBet US.
![](https://igamingbusiness.com/img-srv/rYL1AUI-YD82PHhuS1HrI96vL7K4cLrOdPzv9X7qRro/resizing_type:auto/width:2048/height:0/gravity:sm/enlarge:1/ext:webp/strip_metadata:1/quality:90/bG9jYWw6Ly8vb3JpZ2luLmlnYW1pbmdidXNpbmVzcy5jb20vd3AtY29udGVudC91cGxvYWRzLzIwMjMvMDUvRkFOQVRJQ1MtREMtMTYtMS1zY2FsZWQuanBn.webp)
As for New York’s other operators, BallyBet posted revenue of $724,041 and a $9.7m handle. BetMGM generated $580,224 off $129.7m and Resorts World $544,361 from $8.3m.
Wynn Interactive again propped up the state’s market with $162,800 in revenue off a $7.1m handle.
The February figures mean total spend for the New York financial year to date amounted to $17.80bn, up 8.6% from $16.40bn at the same point in the previous year.
Revenue for the 11 months to the end of February totalled $1.61bn, an increase of 10.5%.
New York generates most US sports betting tax
The monthly results come after a study published last month showed New York contributes more than 37% of the total tax revenue generated from sports betting in the US.
![](https://igamingbusiness.com/img-srv/JGF6Wusl22rei3-4dskjpWpO1mnK-vkbizg-_FdPgHY/resizing_type:auto/width:1300/height:0/gravity:sm/enlarge:1/ext:webp/strip_metadata:1/quality:90/bG9jYWw6Ly8vb3JpZ2luLmlnYW1pbmdidXNpbmVzcy5jb20vd3AtY29udGVudC91cGxvYWRzLzIwMjAvMDgvTmV3LVlvcmstVGF4aS5qcGc.webp)
The Quarterly Survey of State and Local Tax Revenue (QTAX) found that sports betting accumulated national tax and gross receipts of just under $506m in Q3. This was up 20.5% from Q3 2022 but down from $571.5m in Q2 2023.
New York dominated the tax generated via sports betting. Its $188.5m was nearly five times higher than Indiana’s $38.6m in second. No state has a higher tax on gross gambling revenue than New York’s 51%.
Ohio and Illinois were third and fourth with $32.9m and $32.4m respectively. Pennsylvania rounded out the top five with $28.8m.