May typically marks the beginning of the quietest four-month stretch for sports betting handle and revenue in the U.S. With the NFL season and March Madness behind us, and the NBA nearing its conclusion, numbers usually dip. However, this year brought a different picture.
New Jersey returned to over $1 billion wagered, and New York continued its streak over the $2 billion mark. On the flip side, Ohio, Colorado, and Pennsylvania all posted their lowest handles since last August. Despite that, sportsbooks in these states benefited from strong win rates – especially in North Carolina, Pennsylvania, Ohio, and Colorado, where May saw the highest sportsbook hold of 2025.
New York Had Over $2B in Handle for 8 of the Last 9 Months
Since the launch of online sports betting in New York in 2022, the Empire State has routinely recorded over $1 billion in monthly handle. The end of 2023 brought a surge, with three consecutive months over $2 billion, but early 2024 saw a slight drop. That trend reversed in September, and since then, New York has surpassed $2 billion in eight of the last nine months – February being the only exception, missing by a small margin.
In May 2025, bettors in New York wagered $2.2 billion, generating $250 million in gross gaming revenue, supported by the highest hold rate in over two and a half years. Based on data from the New York Gaming Commission, FanDuel and DraftKings remained the dominant players, followed by BetMGM, Caesars, and Fanatics.
New Jersey Handle Again Over $1B
New Jersey betting revenue and handle continue to show strength. In May, the state recorded over $1 billion in bets for the seventh time in the last nine months. This isn’t surprising – New Jersey was the first state to surpass $1B monthly handle after PASPA was overturned.
According to the New Jersey Department of Law & Public Safety, the Garden State saw a solid 10% hold, producing $102.5 million in gross revenue. Compared to May 2024, this marked a 20% increase in handle and 30% growth in revenue, reflecting continued engagement from New Jersey bettors.
Ohio, Pennsylvania, Colorado, and NC – Low Handle, But High Revenue
May wasn’t strong in terms of total wagers in Ohio, Pennsylvania, Colorado, and North Carolina, but high sportsbook win rates made up for it.
In Pennsylvania, bettors placed $655 million in wagers, the lowest in the past nine months. Yet, it was still the highest May handle since legalization. Thanks to a strong 11.6% hold, PA sportsbooks generated $49 million, their second-best revenue month of 2025.
Ohio reported the lowest handle in nine months, but sportsbooks posted an impressive 12% win rate. That led to $88.8 million in sports betting revenue, the highest monthly revenue for the Buckeye State this year. DraftKings and FanDuel continued to lead the Ohio sports betting market.
In Colorado, May handle dipped to $495.3 million, also the lowest in nine months, but revenue held strong at $49 million, second only to January. Colorado sportsbooks received most wagers on basketball (29.2%), followed by parlays (24%), baseball (19.2%), and – surprisingly – table tennis (6.6%).
North Carolina recorded $562.2 million in handle during May, its lowest since August last year. However, with a strong 11.6% win rate, NC sportsbooks generated $65.2 million in revenue, the second-highest total of 2025 for the state. The high hold helped offset the seasonal drop in betting activity.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: https://sportshandle.com/sports-betting-handle-and-revenue-in-may-2025/