New York sports betting handle hits a US record $2.79 billion in October, as a House panel holds its first hearing on gambling on college campuses
October combines a full NFL month with the start of the NBA and NHL seasons and the end of the baseball playoffs, so it is usually one of the busiest months of the year. Even so, the record shows the largest US betting market still growing in its fifth year of mobile wagering, at a time when sportsbooks say prediction markets are competing for the same customers. New York charges a 51% tax on mobile sportsbook revenue, and October produced $131.8 million for the state, according to TheLines. Revenue is more volatile than handle because it depends on game results: November and December 2025 still rank above October on revenue despite lower handle.
What the market is pricing
New York October figures, with operator stock prices at the November 10 close (Twelve Data):
| Measure | Value |
|---|---|
| Statewide mobile handle | $2.79 billion (record) |
| Change vs October 2025 / September 2026 | +5.5% / +16.1% |
| Gross gaming revenue / hold | about $258 million / 9.3% |
| FanDuel handle / revenue | $1.02 billion / $113.9 million |
| DraftKings handle / revenue | $948.7 million / $81.9 million |
| Fanatics handle | $321.4 million (+56.3%) |
| DraftKings (DKNG) close | $19.36 (+3.5%) |
| Flutter (FLUT) close | $82.51 (+0.6%) |
Share prices are market prices, not predictions. Both stocks remain far below their 52-week highs: DKNG is about 48% under its $36.98 peak and Flutter, FanDuel's parent, about 65% under $235.77, per Twelve Data. The New York data did not erase that gap; one record month in one state is a small input next to national margins, taxes and competition.
Who gained share
FanDuel remained the largest operator, at 36.7% of handle, down from 38.1% a year earlier, and it had the highest hold of the major books at 11.1%, according to TheLines. DraftKings handle rose 1.1% but its revenue slipped 1.2%. The fastest growth came further down the table: Fanatics handle rose 56.3% to an 11.5% share, and BetMGM rose 16.4%. theScore Bet, which replaced ESPN Bet, handled $35.9 million, 40.5% less than ESPN Bet a year earlier. The figures are self-reported to the regulator and can be revised.
The college gambling hearing
The House Education and Workforce Committee's Subcommittee on Higher Education and Workforce Development is holding the hearing, according to CDC Gaming and Legis1. Rep. Michael Baumgartner, a Washington Republican and the subcommittee's vice chair, is set to chair it, according to Seattle Red. Baumgartner sponsors H.R. 1552, the PROTECT Student Athletes Act, which would bar college athletes from prop bets on their own performance. Seattle Red cites a 2023 NCAA survey in which 67% of students living on campus said they bet on sports and 41% of college bettors had wagered on their own school's teams. Witnesses had not been listed in the reports BetG8 reviewed.
The hearing follows other congressional attention. On October 22, Sen. Richard Blumenthal and Reps. Paul Tonko and Valerie Foushee wrote to sportsbooks and prediction markets asking whether VIP programs fuel addiction, and Rep. Jimmy Patronis sought answers from the Atlantic Coast Conference on its betting policies, per Legis1. A hearing does not change law by itself. Polymarket lists a market on whether a Protect College Sports Act is enacted before 2027, but at 07:26 UTC on November 11 its bid and ask were 9.4 and 73.3 cents with no recent volume, so it gives no usable price.
What to watch next
Testimony and any follow-up letters from the subcommittee, and whether H.R. 1552 gets a markup date. In New York, the weekly Gaming Commission reports for November will show whether the handle pace holds; November 2025 is the revenue record to beat. Our Kalshi vs Polymarket page tracks the prediction-market side of the same sports.
Method and limits
Handle, revenue, hold and operator figures are New York State Gaming Commission data as reported by TheLines and CDC Gaming; the two outlets differ slightly on revenue ($258.7 million and $258.1 million), so we round to about $258 million. Stock prices are Twelve Data closing quotes for November 10, 2026. Hearing details are from CDC Gaming, Legis1 and Seattle Red. This page does not promote betting. If gambling stops being fun, call 1-800-GAMBLER.
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Frequently asked questions
How much did New Yorkers bet on sports in October 2026?
$2.79 billion through mobile sportsbooks, a US single-month record, up 5.5% from October 2025, according to New York State Gaming Commission figures.
Which sportsbook leads New York?
FanDuel, with $1.02 billion of October handle and a 36.7% share, followed by DraftKings at $948.7 million, according to TheLines.
What is the House hearing on college sports gambling?
A House Education and Workforce subcommittee hearing on November 11, 2026, titled "The Rise of Sports Gambling on College Campuses." Rep. Michael Baumgartner, sponsor of H.R. 1552 on athlete prop bets, is set to chair it.
Sources
- TheLines, New York posts new US record for monthly sports betting handle
- CDC Gaming, New York mobile sports betting handle hits record of nearly $2.8 billion in October
- CDC Gaming, House panel to examine campus sports gambling rise
- Legis1, College sports gambling: House panel will examine
- Seattle Red, Baumgartner to chair college sports gambling hearing
18+ only. This page reports market prices and published facts; it is not betting, financial or legal advice, and prices are not predictions. If gambling stops being fun, help is available at 1-800-GAMBLER.