New York Sports Betting Posts a Strong March Handle of $1.63B

New York Sports Betting Posts a Strong March Handle of $1.63B
By Lou Monaco
Fact Checked by Pat McLoone

Just a couple of minutes before New York sports bettors rejoiced after hitting the moneyline in the New York Yankees’ 6-5, 11-inning season-opening victory over the Boston Red Sox, the New York State Gaming Commission (NYSGC) announced official monthly mobile sports wagering figures for March.

And it turned out, it was quite a month for New York sports betting.

The NYSGC reported the state’s second-highest month in total handle, gross gaming revenue (GGR), net revenue and taxes in its three months of live operation.

New York set the national record for a month with its amazing run from Jan. 8-31 that produced a total sports handle of $1.69 billion.

March was close, very close.

Just Short of National Record

Eight of the nine mobile providers that are live generated $1.63 billion in handle, just short of $1.69 billion in January, the state’s first month of legalized sports wagering.

The mighty March mark was due in large part to the first weekend of March Madness betting (March 17-20), when the Empire State generated more than $427 million.

Four of the providers (Caesars Sportsbook New York, DraftKings Sportsbook New York, FanDuel Sportsbook New York and BetRivers Sportsbook New York) launched on Jan. 8. Since then, the state has handled $4.83 billion.

Total GGR in March posted at more than $114.28 million, second only to January’s $124.14 million. Over three months, the state’s GGR is more than $297.5 million.

Taxes to Albany were $58.28 million, second to January’s $63.31 million. In the first three months of operation, the state has been rewarded with $163.61 million.

That is an incredible three months.

New York Sports Betting Month By Month

Total handleGGRTaxes
March$1.638B$114.3M$58.3M
February$1.53B$82.4M$42M
January$1.670B$124.1M$63.3M

Breakdown of Top Operators

The top mobile provider in the state had its best month to date.

In March, FanDuel New York generated $673.06 million in total handle, after posting $568.06 million in February. In its first three months, FanDuel has generated $1.76 billion in total handle.

FanDuel’s GGR was a whopping $58.3 million, more than doubling its January number of $28.09 million. It also paid $29.7 million in taxes to the state, its largest since $14.3 million in January.

The state’s second largest provider, DraftKings, generated $414.53 million in total handle. In three months of live operation, DraftKings has generated $1.18 billion in handle.

However, the GGR for DraftKings decreased by more than $7 million in March, coming in at $22.89 million, down from $29.95 million in Feb. Its three-month GGR total: $82.42 million.

Taxes to the state in March posted at $11.68 million, its lowest in three months of operation. Overall, DraftKings has paid $42.04 million in taxes to the state.

Caesars generated its lowest monthly handle in March, handling $273.39 million for a three-month total of $1.22 billion. Its GGR for the month ticked upward to $21.58 million from $19.79 million in February for a three-month total of $100.36 million.

Taxes to the state was up to $11 million in March, from February’s $10.09 million. Its three-month total to the state: $51.18 million.

BetMGM recorded its highest monthly handle to date at $172.65 million, up from $154.7 million in February. Its three-moth total handle is $409.55 million.

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Contributors

Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.

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