Monthly Industry Report
Comprehensive analysis of New York record revenues, prediction market launches, UK tax overhaul, European regulatory cooperation, and US state expansion for November 2025.
Executive Summary
The global online gambling market reached an estimated $110.2 billion in November 2025, highlighted by New York sportsbooks setting an all-time record $280M revenue month. The industry witnesses transformative shifts as FanDuel and DraftKings launch prediction market platforms, while the UK's Autumn Budget dramatically increases gaming taxes to 40%. European regulators form unprecedented seven-nation coalition against illegal gambling, and Missouri launches mobile sports betting December 1.
Key Market Metrics
Record revenues driven by NY $280M all-time high and prediction market launches
Mobile platforms continue dominance with prediction market app launches
AI-powered prediction markets and fraud detection reach new milestones
Missouri launch and prediction market approvals expand operator count
Current Market Trends
New York Sets All-Time High $280M Sports Betting Revenue
New York sportsbooks generate record-breaking $280 million in November 2025 revenue, surpassing all previous monthly records. FanDuel leads with $131.9M revenue and 13.2% hold rate on $1B wagered, while DraftKings posts $89.1M. Combined operator revenue demonstrates the maturation and sustained growth potential of the largest US sports betting market
November 2025 record-setting month
FanDuel Predicts and DraftKings Predictions Enter Market
Major industry shift as FanDuel launches FanDuel Predicts in partnership with CME Group, offering sports and economic prediction markets in December 2025. DraftKings secures CFTC and NFA approval for DraftKings Predictions platform, signaling transformation beyond traditional sports betting. Both operators surrender Nevada gaming licenses to pursue prediction market opportunities
December 2025 platform launches
UK Remote Gaming Duty Nearly Doubles to 40%
UK Autumn Budget 2025 dramatically increases remote gaming duty from 21% to 40% and online betting tax from 15% to 25%, creating significant margin pressure for operators. Industry describes rates as 'devastating hammer blow' and 'among the highest in the world.' Changes projected to raise £1 billion annually by 2031 for child poverty initiatives
Autumn Budget 2025 announcement
Seven European Nations Unite Against Illegal Online Gambling
Historic November 12 Madrid meeting sees gambling regulators from Austria, France, Germany, UK, Italy, Portugal, and Spain agree to coordinate action against unlicensed operators. Joint strategy includes intelligence sharing, coordinated illegal gambling ad removal from social media platforms, and unified investigation methods targeting operators using affiliate networks to reach minors
November 12, 2025 Madrid agreement
Missouri Launches Mobile Sports Betting with Major Operators
Missouri officially launches mobile sports betting December 1, 2025, with DraftKings and other major operators going live. The expansion adds another major state to the regulated US market, continuing the momentum of state-by-state legalization. North Carolina also reports strong first-month performance with $800M+ in betting handle
December 1, 2025 Missouri launch
Regional Insights
🇺🇸🇨🇦North America
Key Highlights
- •New York hits record $280M November revenue, FanDuel leads at $131.9M
- •DraftKings posts $89.1M NY revenue, stock rebounds 26% from lows
- •Missouri launches mobile sports betting December 1 with major operators
- •North Carolina exceeds $800M betting handle in first full month
- •Prediction market platforms receive federal regulatory approval
Challenges
- •Nevada license surrenders required for prediction market entry
- •CFTC regulatory complexity for sports prediction contracts
- •State-by-state legalization creates patchwork availability
- •ESPN partnership exclusivity limits smaller operator access
🇪🇺Europe
Key Highlights
- •Seven-nation coalition forms to combat illegal online gambling
- •Madrid meeting establishes cross-border enforcement cooperation
- •European Safer Gambling Week drives responsible gaming awareness
- •AMLA harmonization standardizes AML/KYC requirements across EU
- •Germany licensing framework continues operator compliance improvements
Challenges
- •UK gaming duty doubles from 21% to 40% in Autumn Budget
- •UK online betting tax increases from 15% to 25%
- •New 10x wagering cap on bonuses effective December 19
- •£26M additional Gambling Commission enforcement funding
🌏Asia-Pacific
Key Highlights
- •Melbourne Cup generates record international betting participation
- •Michigan iGaming reaches record $278.5M revenue in October
- •FanDuel surges to #1 position in Michigan iGaming market
- •Mobile betting continues 91%+ share of total wagering volume
- •Regional operators expand AI-driven personalization tools
Challenges
- •Seasonal betting patterns post-Spring Carnival normalize volumes
- •Regulatory uncertainty in emerging Asian markets persists
- •Cross-border payment processing complexity increases costs
- •Competition from prediction market alternatives intensifies
Operator Spotlight
Prediction Market Pivot
Major operators make strategic moves into prediction markets. FanDuel partners with CME Group for FanDuel Predicts launching December 2025, while DraftKings secures CFTC/NFA approval for its platform. Both operators surrender Nevada gaming licenses, signaling prediction markets as the next industry battleground alongside Kalshi, Polymarket, and Robinhood
Record Revenue Performance
November 2025 sees unprecedented revenue performance across major US markets. New York sportsbooks hit $280M monthly revenue with FanDuel capturing $131.9M on 13.2% hold rate. DraftKings rebounds with $89.1M revenue and 26% stock recovery from lows following ESPN partnership announcement and AI push
Tax and Regulatory Adaptation
UK operators face significant restructuring following Autumn Budget 2025 tax increases. Remote gaming duty nearly doubling to 40% and betting tax rising to 25% forces margin reevaluation. European operators coordinate on compliance following Madrid seven-nation agreement on illegal gambling enforcement
Upcoming Industry Events
FanDuel Predicts Launch
FanDuel launches standalone prediction markets app in partnership with CME Group, offering sports contracts in non-betting states and economic indicators including S&P 500, Nasdaq-100, GDP, CPI, oil, gold, and crypto. Full KYC verification required with responsible gaming features
Missouri Mobile Sports Betting Launch
Missouri officially launches mobile sports betting with DraftKings and major operators going live. Expansion adds significant new market to regulated US landscape following successful referendum
UK 10x Wagering Cap Implementation
New UKGC rule limiting bonus wagering requirements to 10x comes into force, affecting operator promotional strategies and customer acquisition methods in the UK market
NFL Playoffs and Super Bowl Buildup
NFL playoff season kicks off with record betting volumes expected following November's strong performance. Super Bowl LX in New Orleans projected to generate $1B+ in legal wagers across US markets
Risk Assessment
UK Tax Impact on Operator Margins
UK remote gaming duty nearly doubling to 40% and betting tax rising to 25% creates immediate margin pressure. Industry describes changes as 'devastating hammer blow' with rates now 'among highest in the world.' Operators face difficult decisions on market commitment and pricing strategies
Diversify revenue streams across multiple jurisdictions, accelerate prediction market and US expansion strategies, implement operational efficiency programs, and evaluate UK market commitment versus alternative growth opportunities
Prediction Market Regulatory Uncertainty
CFTC-regulated prediction markets face state-level pushback and potential conflicts with existing sports betting licenses. Sports contracts only available in non-betting states creates fragmented offering. Nevada license surrenders demonstrate regulatory incompatibility between traditional sportsbook and prediction market operations
Engage proactively with state regulators on prediction market frameworks, develop clear product differentiation between sports betting and prediction contracts, maintain flexible licensing structures, and monitor federal regulatory developments
European Enforcement Intensification
Seven-nation European coalition against illegal gambling signals coordinated enforcement wave. Social media platforms, video services, and affiliate networks face coordinated removal of illegal gambling ads. Increased intelligence sharing and unified investigation methods create heightened compliance requirements
Ensure full licensing compliance across all European markets, audit affiliate and marketing partner relationships, implement robust age verification and geo-blocking, and participate in industry self-regulation initiatives
Market Saturation and Competition
Prediction market entry by FanDuel, DraftKings, Fanatics, Kalshi, Polymarket, and Robinhood creates intensified competitive landscape. Five-player consolidation predicted by analysts may pressure smaller operators. Traditional sportsbook differentiation becomes increasingly difficult in mature markets
Develop unique product offerings and user experiences, leverage AI for personalization and retention, pursue strategic partnerships for market access, and focus on underserved customer segments or geographic markets
Data Sources & Methodology
Research Methodology
This report synthesizes data from multiple authoritative sources to provide comprehensive market insights. All statistics are verified through cross-referencing industry reports and official regulatory data.
Primary Sources
- • New York State Gaming Commission - November 2025 sportsbook revenue data ($280M record)
- • FanDuel Inc. Press Releases - FanDuel Predicts launch announcement with CME Group
- • DraftKings Inc. SEC Filings - CFTC/NFA approval and Railbird Technologies acquisition
- • UK HM Treasury - Autumn Budget 2025 remote gaming duty and betting tax changes
- • Play Michigan - Michigan iGaming record $278.5M October revenue data
- • InGame/Sports Handle - State-by-state November handle and revenue tracking
- • North Carolina Education Lottery - First-month sports betting handle ($800M+)
- • Missouri Gaming Commission - December 1 mobile sports betting launch data
Regulatory & Compliance Sources
- • UK Gambling Commission - Autumn Budget 2025 tax increase analysis and 10x wagering cap
- • European Gaming and Betting Association - November 12 Madrid regulatory summit outcomes
- • CFTC/NFA - DraftKings Predictions platform approval documentation
- • CME Group Press Releases - FanDuel partnership and prediction market framework
- • Casino News Daily - Seven-nation European illegal gambling cooperation coverage
Market Intelligence & Analytics
- • Macquarie Research - Prediction market consolidation analysis (5-player race)
- • Yahoo Finance/Bloomberg - DraftKings stock analysis and ESPN partnership impact
- • Vegas Insider - Prediction market operator comparison and promo analysis
- • Yogonet International - European regulatory cooperation and US market expansion
- • Sportsbookreview.com - FanDuel Predicts and Missouri launch coverage
Note: Market size estimates vary between sources due to different methodologies and regional inclusions. We present ranges and use conservative mid-point estimates where discrepancies exist. All data current as of November 2025.