Sports betting in New York continues its hot streak.
Despite no more football, the Empire State’s nine online sportsbooks generated more than $500 million for the third consecutive week. The New York Gaming Commission reported on Monday that $550.8 million was wagered during the week ending March 16.
That was four days before the start of the NCAA men’s basketball tournament, so the Empire State will likely keep that run going in a market that’s produced more than $500 million handles in 11 out of the last 13 weeks.
College basketball’s conference championship week produced 2% less handle than the previous week, but the $55.4 million in gross revenue was up 31%.
It’s the first time operators hauled in more than $50 million in profits since the Super Bowl week. The 9.9% hold jumped 2.5 points week-over-week and was the highest since late February.
Compared to the same week in 2024, wagering rose 24% while gross revenue increased by morethan 35%.
DraftKings tops FanDuel again
DraftKings led all New York sports betting operators in handle for the fifth consecutive week, generating $211.9 million in wagers. It’s also the first time since online sports betting launched in January 2022 that DraftKings has produced three consecutive weeks of $200-million handles.
The online sportsbook made $24.5 million in revenue, thanks to the week’s highest operator hold of 11.6%.
FanDuel finished second with a handle of $189.4 million. The operator has generated at least $150 million in bets every week since the 2024 NFL football season began in early September.
A healthy 10.2% hold led FanDuel to $19.3 million in profits for the week ending March 16. That’s up $3.7 million from the previous week.
BetMGM revenue leads second tier
Fanatics Sportsbook continued its trend of being the third-most bet operator with a handle of $48.2 million for the week ending March 16. Caesars finished fourth with a handle of $36.6 million, slightly ahead of BetMGM’s $35.2 million.
BetMGM produced the most revenue at $3.2 million, thanks to a trio-best 9% hold. ESPN BET generated $12.8 million in wagers for the week, ahead of BetRivers’ $11.8 million. Both operators recorded a hold under 7%.
Bally Bet was the only New York sports betting operator to end the week with a loss.
