Slide Continues in NY Sports Betting Handle After Monstrous Open to March Madness

Slide Continues in NY Sports Betting Handle After Monstrous Open to March Madness

By Lou Monaco

Fact Checked by Pat McLoone

After the monstrous first week of the NCAA Men’s College Basketball Tournament, March Madness turned into a comparative March Calmness for the eight live mobile New York sports betting operators in the Empire State.

For the week of March 28-April 3, New York bettors wagered $312.13 million in total mobile handle, a little more than $15.71 million less than the previous week, according to official figures released by the New York State Gaming Commission (NYSGC) on Friday.

The state’s weekly total handle was the lowest for a complete week since mobile launched Jan. 8 and the lowest recorded since the first two days of official figures reporting by the NYSGC among the Empire State’s initial four live mobile operators for Jan. 8-9 ($171,298,257). That, of course, was only for two days rather than a week. But a manic and impressive two days it was for just four operators.

Since the opening weekend of March Madness (March 17-20), the state’s total handle has decreased by $115.84 million.

The positive news: Total Gross Gaming Revenue (GGR) for the state posted at $15,181,675, an uptick of $1.25 million from the week before ($13.93 million) and ending a two-week decrease streak.

NEW YORK MOBILE SPORTS BETTING, MARCH 28-APRIL 3

Mobile handle GGR
FanDuel $135,723,818 $3,819,999
DraftKings $72,955,408 $5,379,578
Caesars $48,873,595 $4,254,072
BetMGM $36,879,411 $733,061
BetRivers $8,185,567 $324,624
PointsBet $6,453,998 $362,590
WynnBet $2,213,955 $217,035
Resorts World $844,324 $90,715
Totals $312,130,076 $15,181,675

A LOOK AT HOW TOP FOUR PROVIDERS FARED

FanDuel Sportsbook New York posted a slight uptick in its total weekly handle ($135.72 million) from last week’s number of $133.1 million, to remain atop the weekly leaderboard. Its weekly GGR dramatically dropped from $9.53 million a week ago to $3.82 million for the week ending April 3.

To date, FanDuel is creeping up near the $2 billion mark in total handle and continues to dominate the New York market, handling $1.83 billion, with a revenue of $113.8 million and taxes to the state at $58.05 million.

DraftKings Sportsbook New York posted its lowest handle since the first two days of launch ($38.5 million), coming in at $72.96 million, down more than $10 million from the week before. Its weekly GGR propelled to $5.38 million, up from $1.86 million a week ago.

To date, DraftKings has had $1.22 billion in total handle, $84.48 million in GGR and $43.08 million in taxes to the state.

Caesars Sportsbook New York reported $48.87 million in weekly handle, down from $56.92 million a week ago. Its weekly GGR registered upward to $4.25 million, almost $2 million more than a week ago ($2.28 million), which was its lowest since launch.

To date, Caesars is the third provider to handle more than $1 billion ($1.25 billion). It has generated a total GGR of $102.7 million and $52.35 million in taxes to Albany.

Rounding out the top four is BetMGM Sportsbook New York, posting $36.88 million in handle, the only one of the top four to show a weekly increase. That figure is up from $36.35 million a week ago. BetMGM's total GGR was again positive with $733,061.

To date, BetMGM has handled $428.14 million in the state with $12.5 million in revenue and $6.38 million in taxes.

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

Bally Bet New York, the final of the nine licensed mobile providers, is expected to launch sometime this month.

All New York online sports wagering operators since the launch of mobile betting Jan. 8 have had a cumulative handle of just a shade under $5 billion ($4.99B) and a GGR of more $329.7 million. New York has a 51% tax rate, and the state has collected more than $168.2 million in taxes.

For all updates and the best New York sports betting promo codes, check out EmpireStakes.com.

CUMULATIVE TOTALS, JAN. 8-APRIL 3

Mobile handle GGRTaxes
FanDuel $1,825,534,017 $113,832,340 $58,054,493
Caesars $1,249,183,401 $102,652,350 $52,352,699
DraftKings $1,219,435,722 $84,480,809 $43,085,213
BetMGM $428,135,901 $12,504,813 $6,377,455
PointsBet $134,581,047 $8,723,215 $4,448,839
BetRivers $116,267,840 $4,933,930 $2,516,304
WynnBet $16,002,980 $2,061,486 $1,051,358
Resorts World $5,368,927 $544,185 $277,534
Totals $4,994,509,833 $329,733,130 $168,163,896
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WRITTEN BY
EmpireStakes.com
Lou Monaco
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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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.
... Read More