March proved to be another high-volume month of sports betting in the Empire State, as evidenced by its $2.44 billion handle that fell just shy of January’s record.
DraftKings Reigns Supreme in March
March nearly bested January for the highest betting volume on record in New York, or any other U.S. mobile sports betting market, for that matter, with a combined monthly handle of $2.44 billion, which was a 32% year-over-year increase but ever so slightly short of January’s $2.48 billion handle.
However, due to a relatively low hold (win rate), the combined monthly gross gaming revenues were only $161.8 million, down a whopping 34.5% from January’s $247 million but up 6% over March 2024. Despite the low hold, it was nothing but good news for Boston-based DraftKings, which knocked FanDuel from its perch for the first time in over a year as New York’s most popular sportsbook according to handle.
DraftKings’ handle increased 27.1% from February to $912.1 million in March and generated $62.5 million in gross gaming revenue, a 21.2% rise over the previous month, courtesy of a 6.86% hold.
FanDuel came next, reporting a handle of $862.1 million, which generated $59.4 million in gross gaming revenue on a 6.9% hold, equaling its lowest monthly revenue report since August 2024. The nation’s two sports betting powerhouses, DraftKings and FanDuel, controlled nearly 73% of New York’s sports betting market in March.
Relative newcomer Fanatics took the bronze medal in March with a $207.5 million handle, producing $12.9 million in gross gaming revenue on a 6.22% hold. BetMGM followed with $169.2 million in accepted wagers, which produced $11 million in revenues on a 6.49% hold.
New York Leads the Nation
It is not at all surprising that New York sportsbooks routinely lead the nation in handle and revenue, as its population of nearly 20 million people, along with nine professional sports franchises across North America’s four major leagues, lends itself to being a hotbed of sports betting activity.
The New York Gaming Commission recently confirmed this after releasing sports betting data for the 2024-25 fiscal year, which ran from April 2024 through March 2025. A record $23.94 billion was bet on sports in that fiscal year, which marked a 21.9% increase over the $19.64 billion wagered in the previous fiscal year. It not only set a record high in the state but also became a national record.
Similarly, gross gaming revenue also spiked 21.9% in FY 2024-2025 from the previous fiscal year to $2.14 billion, courtesy of a collective hold of 8.94%, which was down fractionally from 8.98% in FY 2023-2024. Overall, it was a stunning success for New York’s sportsbooks, and FanDuel led the way, boasting a $9.2 billion yearly handle, which generated $969.8 million in revenue courtesy of a 10.54% hold.
DraftKings took the silver medal, accepting $8.6 billion in wagers, which produced $727.9 million in revenue, on an 8.46% hold. The iconic Las Vegas Caesars sports betting app was No. 3 in New York’s market last fiscal year, delivering $131.4 million in revenue on a handle of $1.45 billion in wagers on a 9.09% hold.
