New York Sportsbooks Post 34.3% Revenue Jump in March as Handle Drops 4.5%

March brought a mixed set of numbers for New York sports betting. Betting volume fell from a year earlier, but operator revenue climbed sharply as hold improved during one of the busiest parts of the college basketball calendar.

Good to Know

• New York online sportsbooks took in $2.32 billion in March, down 4.5% from March 2025.
• Gross revenue reached $217.3 million, up 34.3%, with hold at 9.4%.
• FanDuel led both handle and revenue, while DraftKings also posted a double digit win rate.

Higher Hold Offsets Lower Betting Volume in New York

The New York State Gaming Commission reported a March handle of $2.32 billion across eight online sportsbooks. That total was down from $2.43 billion a year earlier, giving the state a second straight month without year over year handle growth. Even so, betting rose 15% from February, helped by conference tournament action, the NCAA Tournament, and MLB Opening Day. New York also stayed above $2 billion in handle for an eighth straight month.

Revenue told a very different story. Gross revenue hit $217.3 million, up 34.3% from last March. Sportsbooks held 9.4% of wagers, nearly three points higher than a year earlier. Upsets in the NCAA Tournament and fewer No. 1 seeds reaching the semifinals helped drive the stronger results.

Since online sports betting started in New York in 2022, no March had produced more revenue. It was also the best operator win rate the market has posted during the NCAA Tournament month. State tax revenue reached $110.8 million for March, lifting year to date tax collections to $328 million.

FanDuel did most of the heavy lifting. It handled $811.1 million in bets and generated $87.4 million in gross revenue after holding 10.8%. That revenue figure was more than $27 million above March 2025. DraftKings also cleared a double digit hold, taking in $77.5 million on $758.4 million in wagers.

Fanatics Sportsbook crossed $300 million in monthly handle for the first time since August, finishing with $302.8 million in bets and $15.7 million in revenue. Bettors had a better month there, keeping hold below 5.2%.

BetMGM had a weaker stretch, generating $11.7 million in revenue on $193.3 million in wagers, a hold just under 6%. Caesars posted $14.2 million in revenue from $152 million in handle and held above 9%.

Further down the table, BetRivers took $52.4 million in wagers and made $4.9 million in gross revenue. That handle ran more than $8 million ahead of theScore Bet, which reported $4.1 million in revenue. Bally Bet handled $14 million and turned in the best hold among the smaller operators at 12.1%.