- The New York State Gaming Commission reported just $8.4 million in gross gaming revenue for last week
- New York online sports bettors wagered $522,370,631
- Operators reported just a 1.6% hold for the week
March Madness favorites were very, very good to New York sports bettors.
The New York State Gaming Commission reported $522,370,631 in online sports betting handle for the week ending March 30. The commission also reported just $8.4 million in gross gaming revenue, the fourth least amount of weekly revenue operators have taken in since the state launch sports betting in January 2022.
New York sports betting operators reported just a 1.6% hold for the week.
Favorites Lead Way For the Week
New York sports bettors loaded up on March Madness favorites in the elite eight, as each of the number-one seeds advanced to the Final Four and covered their respective matchups last week.
Gross gaming revenues totaled just $8,415,164 for the week, more than a 79% decrease from the $41,861,058 in gross gaming revenue from the week ending March 23.
The New York State Gaming Commission releases handle and revenue reports for its nine live NY sports betting apps, Caesars Sportsbook, DraftKings Sportsbook, FanDuel, BetMGM, Fanatics Sportsbook, Bally Bet, Resorts World Bet, ESPN BET, and BetRivers, at the conclusion of each week.
For the week ending March 30, 2025, the state reported $522,370,631 in online sports betting handle and $8,415,164 in gross gaming revenue.
Here are the handle breakdowns for the nine sportsbooks for the week:
- FanDuel NY: $197,804,320
- DraftKings NY: $177,814,590
- Fanatics Sportsbook: $40,897,123
- BetMGM NY: $43,739,303
- Caesars Sportsbook: $35,169,989
- BetRivers: $11,905,993
- ESPN BET: $10,426,963
- Bally Bet: $2,570,846
- Resorts World: $2,041,505
Here are the total handles for the nine sportsbooks since New York’s Jan. 8, 2022 launch. FanDuel is the only operator in the state to eclipse $25 billion in total handle so far.
- FanDuel: $25,974,235,213
- DraftKings: $21,885,499,639
- Caesars: $7,235,954,057
- BetMGM: $4,667,950,295
- Fanatics Sportsbook: $2,524,162,633
- BetRivers: $1,775,485,974
- Resorts World: $244,021,338
- ESPN BET: $287,322,537
- Bally Bet: $166,601,948
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NY Sports Betting Revenues
For the week of March 30, the nine sportsbooks reported a total of $8,415,164 in gross gaming revenue. At New York’s 51% online sports betting tax rate, this resulted in $4,291,733 million in tax revenue.
Here are the total gross gaming revenues for the week:
- FanDuel: $4,285,893
- DraftKings: $1,183,701
- Caesars Sportsbook: $1,201,925
- BetMGM: $989,662
- Fanatics Sportsbook: $787,496
- ESPN BET: $43,278
- Bally Bet: $42,985
- Resorts World: ($3,199)
- BetRivers: ($116,577)
Here are the total gross gaming revenues since the Jan. 8, 2022 launch:
- FanDuel: $2,690,303,732
- DraftKings: $1,826,836,426
- Caesars Sportsbook: $525,018,065
- BetMGM: $312,209,192
- Fanatics Sportsbook: $175,929,188
- BetRivers: $108,693,184
- ESPN BET: $18,095,492
- Resorts World: $15,986,645
- Bally Bet: $9,953,203
March Madness is in full swing and the top teams are dominating not only on the court, but also in the world of sports betting in New York. With the legalization of sports betting in the state, operators are seeing a surge in bets placed on the NCAA basketball tournament.
The top March Madness teams, such as Gonzaga, Baylor, and Michigan, are attracting a lot of attention from bettors. These teams have been performing exceptionally well throughout the season and are considered favorites to make deep runs in the tournament. As a result, many bettors are putting their money on these teams to win it all.
New York sports betting operators are seeing a significant increase in bets placed on these top teams. The excitement and unpredictability of March Madness make it one of the most popular sporting events for betting, and with the top teams performing at such a high level, the stakes are even higher.
Operators are also offering a variety of promotions and bonuses to attract bettors during March Madness. From free bets to enhanced odds, sportsbooks are pulling out all the stops to entice customers to place their bets with them. This competitive landscape has led to a surge in activity and revenue for operators in New York.
As the tournament progresses and the top teams continue to dominate, it will be interesting to see how the betting landscape evolves. Will the favorites continue to perform well, or will there be upsets that shake up the bracket? Only time will tell, but one thing is for certain – March Madness is keeping sports betting operators in New York on their toes.
