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New York sports betting handle grows despite prediction market competition

New York sportsbooks posted strong handle growth in September despite concerns about rising prediction market competition.

Written by the BettingEdgeHub desk, 28 October 2026

New York sports bettors risked more than $2.4 billion in September. That figure marked a five percent gain compared to the same month last year. Total wagers increased by nearly $114 million.

Growth continues in New York

Volume for the year is up by 3.7 percent. Bettors have staked roughly $697 million more than they did by this point last year. Fiscal year numbers show an even stronger rise across the first six months.

Revenue drops for sportsbooks

The higher handle did not translate into better revenue for oddsmakers. Sportsbook revenue declined by 5.8 percent down to $1.1 billion over the past six months. The hold dropped from 10 percent down to 8.8 percent as bettors fared better.

Industry fights prediction markets

Legal gaming operators claim prediction markets take business away from state regulated platforms. The American Gaming Association states that prediction markets cost states considerable tax revenue. Prediction markets reject these gambling claims because traders bet against each other rather than the house.

Mixed results across other states

New York remains the largest legal sports betting state in the country. Illinois also saw handle rise by 5.7 percent to reach $9.3 billion through August. However, New Jersey experienced a 4.1 percent decline in handle through September.