New York Sports Betting Proves to Be Hot for March Madness

New York Sports Betting Proves to Be Hot for March Madness
By Lou Monaco
Fact Checked by Pat McLoone

New York sports betting mobile operators are giving out a big Thank You to bettors in the Empire State for action on the first weekend of March Madness.

For the week of March 14-20, New York bettors wagered more than $427.97 million with the state’s eight online operators, an increase of more than $21.53 million from the week earlier, after the New York State Gaming Commission (NYSGC) released official weekly numbers on Monday.

The state’s weekly total handle was the highest since the week ending on Super Bowl Sunday and the fifth highest in the state since mobile sports betting was launched on Jan. 8. However, the total Gross Gaming Revenue (GGR) posted at $26.05 million, a $10.82 million decrease from the week before.

The action for the NCAA Men’s Basketball Tournament began in full force from March 17-20.

NEW YORK MOBILE SPORTS BETTING, MARCH 14-20

Mobile handle GGR
FanDuel $167,953,379 $14,665,422
DraftKings $110,841,556 $3,311,251
Caesars $67,758,590 $4,352,538
BetMGM $43,007,730 $1,589,234
PointsBet $23,970,604 $1,100,430
BetRivers $10,950,091 $718,167
WynnBet $2,249,686 $223,775
Resorts World $1,240,084 $95,942
Totals $427,971,720 $26,056,759

A LOOK AT HOW SPORTSBOOKS FARED

FanDuel Sportsbook New York handled its third-largest number since launch ($167.95 million) to take weekly honors, but was down $5.09 million from the week before ($173.05 million). It weekly GGR was $14.67 million.

To date, FanDuel continues to dominate the New York market, handling $1.56 billion, with a revenue of $100.48 million and taxes to the state at $51.25 million.

DraftKings Sportsbook New York finished second for the week with $110.84 million in handle, its third largest to date, and an increase of $7.75 million from the previous week. Its weekly GGR posted at $3.31 million, its lowest ever since launch.

To date, DraftKings has had $1.06 billion in total handle, $77.24 million in GGR and $39.39 million in taxes to the state.

Caesars Sportsbook New York finished third with a weekly total handle of $67.76 million, its seventh largest since launch, and a slight increase from $66.86 million for the week ending March 13. Its weekly GGR registered at $4.35 million, a decrease of $3.26 million from the week before ($7.61 million).

To date, Caesars is the third provider to handle more than $1 billion ($1.14 billion). It has generated a total GGR of $96.12 million and $49.02 million in taxes to Albany.

BetMGM was the second of the four top providers to show an increase from last week, posting $43 million in total handle, a slight increase from $40.5 million a week ago and its second highest handle since $43.30 million for the week ending Feb. 13.

Its total GGR posted at $1,589,234.

To date, BetMGM has handled $354.9 million in the state with $12.2 million in revenue and $6.22 million in taxes.

The other online operators in New York are BetRivers New York, PointsBet New York, WynnBet New York and Resorts World New York.

Bally Bet, the final of the nine mobile providers, is expected to launch sometime in April.

All New York online sports wagering operators since the launch of mobile sports betting on Jan. 8 have had a cumulative handle of $4.35 billion and a GGR of a little more $300.6 million. New York has a 51% tax rate and the state has collected more than $153.3 million in taxes.

For all updates and the best New York sports betting promo codes, keep taking close looks at EmpireStakes.com.

CUMULATIVE TOTALS, JAN. 8-MARCH 20

Mobile handle GGRTaxes
FanDuel $1,556,710,104 $100,482,055 $51,245,848
Caesars $1,143,394,240 $96,120,757 $49,021,586
DraftKings $1,063,434,107 $77,241,524 $39,393,177
BetMGM $354,902,296 $12,204,329 $6,224,208
PointsBet $120,829,650 $7,900,265 $4,029,135
BetRivers $100,041,875 $4,657,671 $2,375,412
WynnBet $11,815,188 $1,650,859 $841,938
Resorts World $3,415,830 $366,239 $186,782
Totals $4,354,543,290 $300,623,698 $153,318,086
quote

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.

Cited by leading media organizations, such as:

Scroll to top