Mobile NY Sports Betting Sees Modest Growth Despite March Madness

Written By Matthew Waters on March 28, 2022
NY sports betting

Mobile NY sports betting handle grew week-over-week at the start of March Madness, but more modestly than in past weeks.

Handle at the eight mobile New York sportsbooks grew 5.3% to $428 million for the week ending March 20. That is compared to the $406.4 million bet in the week ending March 13, when conference tournaments were wrapping up before March Madness betting began.

Operators reported $26.1 million in sports betting revenue with the majority coming from FanDuel. Hold was 6.1% for the week, though that number could be a bit muddied by futures bets.

NY sports betting weekly breakdown

FanDuel led the way taking nearly 40% of money wagered during the week. DraftKings and Caesars Sportsbook ranked second and third, with the three combining for an 80.9% handle share.


FanDuel and Caesars both saw handle share slip a bit, though, and it mostly fell to PointsBet. The Australia-listed operator reported handle share of 5.6% for the week, up from 2.1% the week before.

March results so far

Through 20 days in March, NY sports betting generated $42.5 million in taxes on nearly $1.2 billion bet.


More than half of those taxes are being paid by FanDuel so far. The operator has a 55.7% revenue share for the month. There is a nearly 40 percentage point gap between FanDuel and second-place Caesars’ 16.9% revenue share.

March could wind up topping the record $1.686 billion handle set in 23 days in January. There are still 11 days to report with average daily handle at $58.9 million so far this month.

Market not waiting for new books

While PointsBet showed it is possible to grab some market share as a newer operator, bettors are not waiting around for the final brand to launch.

Bally’s decided to hold off until at least April for a New York launch considering it is still building out its Bally Bet 2.0 platform.

So far in March, the three smallest brands – BetRivers, WynnBET and Resorts World Bet – account for 3.4% of handle share and 3.3% of revenue.

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Matthew Waters

Matthew Waters is a reporter covering legal sports betting and the gambling industry. Previous stops include Fantini Research and various freelance jobs covering professional and amateur sports in Delaware and the Philadelphia area.

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