After three consecutive weeks of online sports wagering falling below $500 million, New Yorkers are back to reaching that handle mark in back-to-back periods.
Key Takeaways
- New Yorkers wagered 6.5% more dollars than the previous week during conference tournaments.
- A 9.2% hold from the latest report continued a single-digit trend.
- DraftKings outduels FanDuel in revenue again.
The New York State Gaming Commission recently reported that $549.3 million was bet during the week ending March 15, just days before the start of the NCAA men’s and women’s tournaments.
Conference tourneys helped create a 6.5% higher handle than the previous week, when New Yorkers cleared $526.5 million in wagers. The March 15 week’s betting total was nearly on par with the same period in 2025, which was less than 0.3% higher.
Revenue followed a similar trend, with the New York online sports betting operators collectively generating $50.6 million in profits during the week ending March 15, a 6.5% increase from the previous week but a 7.1% decrease from the same week last year.
The 9.2% hold continued a six-week streak of single-digit win rates for mobile sportsbooks. With many favorites cashing throughout the first weekend of the NCAA tournament, that trend could continue into the next report. The same week last year led to an 8.1% hold on a $555.3 million handle.
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DraftKings stays hot
FanDuel and DraftKings, the two market-share leaders in the most lucrative U.S. sports betting jurisdiction, experienced significant week-over-week wagering increases during the period ending March 15.
FanDuel’s $193.9 millon handle was up nearly 12% from the previous week. DraftKings saw a 5.7% week-over-week betting bump to $180.9 million.
The online operator used a 10.5% hold to produce a state-best $19.1 million in gross revenue, ahead of FanDuel’s 8.6% win rate that led to $16.8 million in profits. It’s the second consecutive week that DraftKings has won back more money than FanDuel, which generated $5 million less revenue than the same week last year.
BetMGM bounces back
Fanatics has seen its handle explode in recent weeks, going from just under $60 million at the end of February to $65.2 million in the previously reported week and $70.1 million during the latest period, the most since a wild three-week stretch in August. However, the online sportsbook has produced back-to-back holds under 6% to limit profits during the wagering windfall.
BetMGM accepted $14 million less in bets than in the previous week. Still, revenue more than doubled to $4.8 million, the operator’s most profitable week in New York since the period ending Jan. 18. Caesars produced a double-digit hold on a $34.8 million handle.
BetRivers has produced nearly identical weeks the last two periods, claiming around $1.3 million on two handles over $12 million. TheScore Bet won back 7.4% on a $11.3 million handle during the week ending March 15. Bally Bet won back a state-best 13.2% on a $2.9 million handle.
