The month highlighted by the NCAA Tournament and MLB’s Opening Day suffered a 4.5% year-over-year wagering decrease.
Key Takeaways
- The Empire State generated over $2 billon for the eighth consecutive month.
- Revenue spiked 34% year-over-year in March, thanks to a better tournament for operators.
- FanDuel’s year-over-year March profits increased by more than $27 million.
The New York State Gaming Commission reported on Friday that the Empire State’s eight online sportsbooks generated a $2.32 billion handle in March, down from the $2.43 billion that New Yorkers bet the previous year. The Empire State failed to have a year-over-year handle increase for the second consecutive month.
Wagering was up 15% from the previous month, and college basketball’s conference and NCAA tournaments helped keep the streak of $2 billion handles going for the eighth straight month.
Enjoying Covers content? Add us as a preferred source on your Google account
Best March yet
While the handle fell, profits soared behind some NCAA Tournament upsets and fewer No. 1 seeds advancing to the semifinals than last year.
Gross revenue of $217.3 million rose 34.3% from the previous March, thanks to a 9.4% hold, which was up nearly three points. Online sportsbooks cleared $200 million in New York revenue for the seventh time in 11 months.
Since New York online sports betting began in 2022, this was the most profitable March and produced the highest operator win rate yet during the NCAA Tournament month.
The state filled its coffers with $110.8 million, bringing the year-to-date tax revenue total to $328 million.
FanDuel sees massive bump
| Online Operator | March Handle | Revenue |
|---|---|---|
| FanDuel | $811.1 million | $87.4 million |
| DraftKings | $758.4 million | $77.5 million |
| Fanatics Sportsbook | $302.8 million | $15.7 million |
| BetMGM | $193.3 million | $11.7 million |
| Caesars | $152 million | $14.2 million |
FanDuel was a massive benefactor of the improved March results. The online operator won back 10.8% on a state-best $811.1 million. FanDuel’s $87.4 million in gross revenue was up by more than $27 million from March 2025.
DraftKings also produced a double-digit win rate, getting back $77.5 million on a $758.4 million handle. Fanatics went over $300 million in wagers for the first time since a wild August, but bettors fared well, keeping the hold below 5.2%.
BetMGM had a rough few weeks in March, barely winning back 6% on a $193.3 million handle, while Caesars got above 9% on $152 million in wagers. BetRivers generated $52.4 million in wagers, over $8 million more than theScore Bet, and finished with $4.9 million in gross revenue, while theScore Bet made $4.1 million. Bally Bet won back an impressive 12.1% on a $14 million handle.
