The New York State Gaming Commission reported a mobile sports betting handle of $539.6 million for the week ending March 24, the second-highest amount wagered in 117 weeks since sports betting apps became available in the Empire State.
The action, highlighted by the first two rounds of the NCAA Tournament, trailed only the $572.6 million wagered during the week ending January 22, 2022, the third week mobile betting was available in New York. It was the sixth time handle surpassed one-half billion dollars and was the most since $502.2 million was bet the week ending Dec. 17. In stacking up this year’s handle against the week ending March 19 last year — also when the first two rounds were held — handle was up 17.3%.
It was the third weekly handle of the year to break into the all-time top 10, along with Jan. 21 at $490.7 million and Feb. 11 — the week of Super Bowl LVIII — at $474.6 million. While the nine operators combined for $31.2 million in adjusted gross sports betting revenue, the 5.8% hold was the lowest since the 1.1% win rate from Feb. 11. The biggest difference this time was that no operator posted a loss in March, but none of them had a hold above 9%.
FanDuel posts third-best handle in state history
FanDuel accounted for 45% of the action as the $244.8 million worth of accepted wagers was its third-highest total, trailing only the all-time state high of $274.7 million for the week ending Oct. 29 and $262.3 million the week ending Nov. 19. But as was the case in those two weeks, FanDuel failed to notch a big win against the betting public.