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Bet365 Interested in New York Sports Betting Market EntryWith Resorts World Bet actively exiting the New York market, Bet365 may take the opportunity to claim a long-desired sports betting license in the state.Global betting powerhouse Bet365 could soon be making its move into one of the biggest sports betting markets in the U.S.A recent report from the Offshore Gaming Association suggests the UK-based betting giant is interested in acquiring the New York mobile sports betting license that Resorts World Bet will vacate at the end of the month.Rare Opportunity in the NY MarketThe mobile betting platform operated by Genting recently informed its users that they must withdraw any remaining funds by June 22. The platform will officially cease operations in New York on June 30, having already stopped taking wagers this past Monday.This development creates a rare opening in the tightly regulated New York market, and Bet365, which joined the Sports Betting Alliance just last week, might be ready to pounce.While no official bids have been announced, OSGA claims the company has shown interest in taking over the permit, even suggesting it may match the $25 million Penn Entertainment reportedly paid to acquire WynnBet’s license earlier this year.While Hard Rock Bet and Underdog Fantasy have also been named as potential contenders, none of the three operators has publicly confirmed their intentions.“Even though no sportsbooks are making money in the Empire State, it’s still deemed crucial for any company to be deemed a major operator; they must have a legal presence in the state where sports betting handle in 2024 was $22.7 billion and is growing steadily each month,” the OSGA noted.Filling in the GapBet365’s push into New York would build on a wave of recent expansion. The company has gone live in Illinois and Tennessee and plans to launch in Missouri.It’s already active in a dozen states, including Arizona, Colorado, New Jersey, and North Carolina, but New York has remained a notable gap.One possible motivator for Bet365’s interest is speculation that the company is preparing for a sale or even a U.S. IPO. A New York presence could significantly boost its valuation, with some reports suggesting it’s targeting a $10–12 billion range.Despite a brutal 51% tax rate and an environment dominated by FanDuel and DraftKings, New York is still viewed as essential territory for any serious sportsbook brand.That means if Bet365 makes a move, it likely won’t be alone, and competition for that open license could be fierce.

Record-Breaking October for New York Sports BettingThe Empire State’s sports betting market shattered expectations in October 2025, setting a new national benchmark for online wagering. According to data from the New York State Gaming Commission, bettors staked an unprecedented $2.64 billion on sports — the highest monthly handle ever recorded in the U.S.The milestone marked a 13% year-over-year increase and surpassed the previous record of $2.49 billion, set in January. Fueled by a packed sports calendar that included NFL and college football, the MLB playoffs, and the start of both the NBA and NHL seasons, October’s surge pushed the state’s cumulative mobile handle to its 14th month above the $2 billion threshold.Record Month for OperatorsThe eight licensed mobile sportsbooks operating in New York collectively earned $238.7 million in gross gaming revenue, up 35% from October 2024. The industry-wide 9% hold rate — higher than last year’s 7.6% — made October the state’s third-most profitable month since mobile betting launched in January 2022.Tax revenue followed suit, with operators contributing $121.8 million at New York’s 51% rate, bringing 2025’s total to a record $1.05 billion — already exceeding last year’s full-year figure with two months still remaining.FanDuel Crosses $1 Billion Monthly HandleMarket leader FanDuel broke new ground by becoming the first mobile sportsbook in New York history to take more than $1 billion in bets in a single month. The Flutter Entertainment-owned operator’s handle reached $1.01 billion, just edging past the milestone, while generating $100.6 million in revenue — a 30% increase year-over-year with a 10% hold rate.According to InGame, FanDuel’s October handle gave it 38.1% market share, up from 34.5% in September, though slightly below its share in October 2024. It was the fourth time in 12 months that FanDuel’s New York revenue surpassed nine figures.DraftKings, Fanatics, and BetMGM Drive GrowthDraftKings nearly matched its top rival, posting a record $938 million handle and $82.9 million in revenue, up 40.8% year-over-year. The Boston-based operator maintained a strong 35.5% market share and achieved an 8.8% hold, its best result since May.Fanatics Sportsbook continued its upward trend with $205.7 million wagered and $18.7 million in revenue — a 50.8% annual increase — on the strength of a 9.1% win rate.BetMGM reclaimed a 7% handle share for the first time since July, accepting $187.5 million in wagers. Its $14.4 million revenue, up more than 50% year-on-year, reflected a 7.7% hold. Caesars Sportsbook closely followed with $175.8 million handle and $13.2 million revenue, marking a 21% rise from last year.Meanwhile, BetRivers recorded its strongest month since late 2023, producing $4.4 million in winnings from a $53 million handle at an 8.3% hold.ESPN Bet Exits After Underwhelming PerformanceESPN Bet, operated by Penn Entertainment, posted a personal best $60.3 million handle in October but captured only 2.3% of the market. Despite a 47% increase in wagering, a sub-6% hold limited revenue to $3.4 million.Just days after the October data release, Penn Entertainment and ESPN announced the early termination of their $2 billion partnership, paving the way for Penn’s transition back to theScore Bet in December. ESPN Bet exits New York without ever achieving a 3% market share or generating $50 million in total revenue.Highest Weekly Handle in State HistoryThe week ending November 2 delivered the highest weekly handle in state history — $661.6 million — driven by five World Series games and a full slate of NFL matchups. Operators posted $75.9 million in gross revenue for the week, led by FanDuel, which generated nearly 45% of statewide profits with a 13% hold.DraftKings also saw a strong performance, collecting $25.8 million in revenue from $236.3 million in wagers — a 67% increase over the prior week.New York Solidifies Its Position as Top U.S. MarketSince mobile sports betting went live in January 2022, New York operators have now generated more than $7.1 billion in cumulative revenue, solidifying the Empire State’s position as the most lucrative sports betting market in the United States.