If pre-March Madness figures are any indication, the next few weeks are going to be a boom for New York’s online sportsbook operators.
The Empire State produced a weekly sports betting handle of more than $400 million for the 21st time in the last 22 weeks. The only week that number wasn’t reached was the week before the Super Bowl.
With the meat of college basketball’s tournament season yet to come, the New York Gaming Commission reported a weekly handle of $437.1 million, a 4.2% week-over-week drop, for the period ending March 10.
Revenue fell 7.7% to $37 million but stayed above $30 million for the 14th time in the last 15 weeks.
The weekly hold of 8.5% was a mild slip from the 8.8% in the previous period but still a healthy number for operators.
FanDuel goes up
The weekly handle was not down for FanDuel. The top sportsbook during the period ending March 10 took in $184.8 million, which went up slightly from the week before while revenue rose 11.4% to $16.5 million.
DraftKings had the second-best handle at $146.5 million, but revenue went up from $10.5 million in the previous week to $13 million in the week ending March 10.
Caesars reported a handle of $44.1 million while BetMGM was fourth at $31.7 million.
BallyBet was the only operator in the red with a loss of $10,720 on a $1.7 million handle.
Joining the fray
Fanatics Sportsbook showed up in the New York sports betting weekly figures for the first time since switching over from the PointsBet platform.
Fanatics, which bought out the Austraila-based company’s U.S. holdings last year, generated a handle of $27.4 million in the week ending March 3. That ranked fifth in the Empire State and just $400,000 behind BetMGM.
Revenue of $10.1 million was only bested by FanDuel and DraftKings and helped make up for the $8 million loss suffered in the final week under the PointsBet brand.
In the week ending March 10, the Fanatics handle fell to $12 million while revenue plummeted 92% to $812,439.
