March Madness will conclude on Monday with the national championship game and nine mobile NY sportsbooks will be bracing for the next five months, awaiting the start of the pro and college football seasons.
Why?
The New York State Gaming Commission (NYSGC) released official weekly figures for the week ending March 26 on Thursday, and after the second-highest combined handle ever recorded a week ago, the state took a nosedive.
New York recorded more than $362.65 million in total mobile handle, a significant $97.32 million drop from about $460 million a week ago. That ended a three-week run of more than $400 million handled.
The state's total mobile Gross Gaming Revenue (GGR) did respond on a huge note, however, recording the third-highest number for any week since launch on Jan. 8, 2022. The GGR posted at more than $43.76 million - a $4.58 million increase from the week before.
Weekly tax collected by Albany: $22.32 million, a $2.34 million bump from last week's $19.98 million.
As a reminder, New York's tax rate of 51% is tied with New Hampshire for the highest in the United States.
Since launch, the state has handled more than $21.027 billion, generated more than $1.75 billion in total GGR and has collected more than $894 million in taxes for the state.
Weekly Nuggets on NY Sports Betting
Eight of the nine mobile apps had decreases in handle. Only BallyBet New York had increases in both total handle and GGR.
Four other providers had GGR increases: FanDuel Sportsbook New York, Caesars Sportsbook New York, PointsBet Sportsbook NY and Resorts World New York.
DraftKings Sportsbook New York had a $37.8 million decrease to $116.26 million in handle from a week ago.
WynnBet Sportsbook New York dropped to $1.92 million in total handle, the first time it has been below $2 million since $1.74 million for the week ending Dec. 25.
The top five providers for the week in mobile handle:
- FanDuel ($155.68 million)
- DraftKings ($116.27 million)
- Caesars ($46.14 million)
- BetMGM ($24.51 million)
- BetRivers ($11.34 million)
Stay tuned to EmpireStakes.com for frequent revenue updates, as well as for the best NY betting promos.
