The New York State Gaming Commission has released its sports wagering figures for the month of March. Online sportsbooks generated a total handle of $1.64bn for the month. March’s handle reflected a 7% increase from the previous month and nearly reached New York’s highest performing month, which January still holds with a handle of $1.67bn.
The boost in New York’s activity does not come as a surprise. With March Madness going on last month, a rise in sports wagers was inevitable.
Since the state’s commercial market went live in January, New York has brought in close to $5bn in online sports wagers between January and March. More than $300m in revenue came in during the same period.
New York has also seen a bump in revenue during March. The state generated a higher amount this month than during February, with a total of $114.3m in gross revenue for March. Operators won $82.4m in February, with players betting less and winning more during that month.
Year-to-date numbers reflect the equivalent of a first-quarter report at this time, reflecting $4.8bn in total wagers and $320.8m in gross revenue.
Flutter Entertainment’s FanDuel was the market leader for the month and during the early reports of the state’s online sports betting figures. The operator’s lead in the market represents the combined shares of Caesars and DraftKings.
BetMGM, PointsBet, Rush Street Interactive and Wynn Resorts make up the rest of the state’s market shares.
Online gambling is currently available in 30 states, with 18 of those allowing for legal online sports wagering. According to the US Census Bureau, those jurisdictions represent more than 166.9 million people.
New York State opened for legal sports betting on January 8.
