Opening Week of March a Big One for New York Betting Handle

Opening Week of March a Big One for New York Betting Handle
Fact Checked by Michael Peters

Could March Madness take New York sports betting to new heights?

Early indications lean in that direction.

New York sports betting apps posted a hefty handle of more than $410.7 million for the week ending March 5. That is a 16% increase from last week’s total of more than $353.8 million.

The weekly figures were released Thursday afternoon by the New York State Gaming Commission (NYSGC).

A year ago, powered by the NCAA Men’s Basketball Tournament, New York’s March handle was $1.638 billion. That is the third-highest month since New York mobile betting launched in January of 2022.

The monthly record was set in January of this year ($1.79 billion). The February total will be released in the next few days.

This week’s handle number could mean a new record or at least a March that surpasses last year. This week notched $410.7 million. The same week last year was only $359.5 million.

And the games — the big games — have not yet begun.

New York Mobile Sports Betting, Feb. 27-March 5

 
Mobile handle GGR
FanDuel $169,289,508 $8,817,212
DraftKings $137,411,093 $10,362,130
Caesars $55,786,533 $2,984,042
BetMGM $26,844,547 $2,394,477
BetRivers $10,587,341 $719,695
PointsBet $6,774,761 $405,363
WynnBet $2,392,716 $88,287
Resorts World $999,561 $77,925
Bally Bet $698,667 Minus-$10,934
Totals $410,784,728 $25,838,198

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Breakdown of Revenue, Sportsbooks

New York had Gross Gaming Revenue (GGR) of more than $25.8 million for the week, down a few million from a week ago ($28.4 million).

The weekly taxes sent to Albany were more than $13.7 million.

The Empire State taxes at 51%, which ties New Hampshire for the highest rate in the nation.

FanDuel NY maintained its firm grip on the No. 1 spot, with a weekly handle of nearly $170 million. Its cumulative handle will surpass $8 billion with next week’s report.

There are nine sportsbooks in the market, and FanDuel accounts for 40.3% percent of the handle.

DraftKings NY followed at No. 2 again, with a handle of more than $137.4 million. When you combine DraftKings’ cumulative handle of $5.72 billion with FanDuel, the top two are raking in a little less than 70% of the market.

EmpireStakes.com reports frequently on state revenue reports. The state also supplies the best NY betting promos

Cumulative Totals, Jan. 8, 2022-March 5, 2023

 
Mobile handle GGRTaxes
FanDuel $7,968,555,828 $789,210,603$402,497,408
DraftKings$5,720,257,875$433,874,708$221,276,101
Caesars $3,257,502,670 $239,521,927 $122,156,183
BetMGM $1,593,090,374 $97,272,921 $49,609,190
PointsBet $524,361,788 $30,895,389 $15,756,648
BetRivers $504,954,800 $27,746,629 $14,150,781
WynnBet $115,504,974 $7,027,571 $3,584,061
Resorts World $69,022,589 $3,694,168 $1,884,026
Bally Bet $8,481,423 $445,185 $227,044
Totals$19,761,732,318 $1,629,689,101 $831,141,442

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Author

Pat McLoone is a news editor overseeing coverage for New York state sites EmpireStakes.com and NewYorkBets.com, among other duties. Pat spent more than 40 years at the Philadelphia Daily News, where he became managing editor, and later the Philadelphia Inquirer, as managing editor for Sports.

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