Nearly $5 billion was made in online sports betting from January to March in the US state of New York, with more than $300 million in revenue generated during the period.
This count follows another positive month for the region, as March Madness inevitably drew sports bettors to its apps and websites in the third month of the 2022 calendar.
New York online bookmakers had $1.6 billion in revenue (total stakes) for the month of March, according to the New York State Gaming Commission.
That figure increased by 7% month-on-month, albeit slightly down from January’s $1.67 billion total. In terms of revenue, New York sports betting apps generated considerably more than the previous month.
While February’s sports betting activity saw operators earn $82.4 million, with players betting slightly less and earning slightly more overall, March generated gross revenue of $114.3 million.
Looking at the year-to-date numbers, which is essentially a first-quarter report at this stage, New York generated $4.8 billion in betting, with $320.8 million in gross revenue.
The biggest sports betting brands in New York
Flutter Entertainment – which owns FanDuel – has been the clear leader in the region during the first showings of New York’s legal online sports betting market.
Caesars still has a good share of the market, despite having had a recent slump. DraftKings also has a significant market share, surpassing Caesars in this regard.
FanDuel’s leadership is explicit in New York, as its share is more comparable to that of Caesars and DraftKings combined.
The rest of the market is made up of companies like BetMGM, PointsBet, Rush Street Interactive and Wynn Resorts, which are vying for a small segment among them.
