March Madness Favorites Put Hurting on New York Sports Betting Operators

• 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

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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

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