New York Reports Another Weekly Surge at Sports Betting Sites
Recently reported numbers from the New York State Gaming Commission show the state’s nine online sportsbooks handled $410.8 million in wagers during the week ended March 5.
Sports betting sites in the Empire State saw business pick up again last week, which could be the onset of March Madness in New York.
Recently reported numbers from the New York State Gaming Commission show the state’s nine online sportsbooks handled $410.8 million in wagers during the week ended March 5, up from $353.8 million the week before.
Gross gaming revenue from mobile sports betting in New York last week was $25.8 million, down from $28.4 million for the week ended February 26. The sportsbook hold for the week ended March 5 was 6.3%, lower than the previous week’s win rate of 8%.
Three's company
The leading operator by handle last week in New York was FanDuel, with $169.3 million in bets taken during the week ended March 5 and $8.8 million in revenue generated.
Running second in the standings was DraftKings, with $137.4 million in weekly handle and $10.4 million in revenue. The final spot on the podium went to Caesars Sportsbook, which took $55.8 million in wagers and turned it into almost $3 million in receipts.
Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.
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