How Has March Madness Grown New York Sports Betting So Far?

by | Mar 31, 2022 11:12 am | Revenue | 0 comments

How Has March Madness Grown New York Sports Betting So Far?

March Madness

  • New York sports betting handles have grown every week in March
  • FanDuel had the largest handle of the third week in March
  • FanDuel, DraftKings and Ceasars Sportsbooks took 80% of the market share

NEW YORK – New York’s mobile sports betting handle has seen consistent growth the past few weeks, but more recently that growth has been less substantial than in previous weeks.

Week-To-Week

The third week of March that ended on March 20 showed a solid $428 million legal sports betting handle. This is a 5.3% increase from the prior second week of March, where New York residents wagered $406.4 million.

Although this percentage increase is perhaps not as much as some may have expected given the popularity of March Madness, the mobile New York sports betting market is still young, only having launched in January.

March Madness has undoubtedly had an effect on New York sportsbooks, as every week in March so far has reportedly brought in more revenue than the last.

Sportsbook Breakdown

New York now has eight regulated mobile sportsbooks for citizens to place their wagers with, the most popular of which so far is FanDuel. DraftKings and Caesars Sportsbook also did very well for themselves, and between the three of them took up 80.9% of the total handle share.

Mobile Sportsbooks Week Three Handle:

  • FanDuel: $466,058,282
  • DraftKings: $305,639,753
  • Caesars: $193,491,868
  • BetMGM: $120,557,233
  • PointsBet: $53,467,326
  • BetRivers: $29,766,161
  • WynnBET: $6,585,571
  • Resorts: $3,222,277

In terms of Revenue, FanDuel also lead the way by no small margin, by generating $46.3 million in sports betting revenue for Week 3. 

That is 229% more than the $14.0 million worth of revenue generated by Ceasars Sportsbook, and 264% more than the $12.7 million made by DraftKings

Mobile Sportsbooks Week Three Revenue:

  • FanDuel: $46,344,384
  • DraftKings: $12,716,647
  • Caesars: $14,084,756
  • BetMGM: $4,351,594
  • PointsBet: $2,941,675
  • BetRivers: $1,862,952
  • WynnBET: $677,651
  • Resorts: $284,886
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