When you sign-up through links on our site, we may earn an affiliate commission. Learn more >

All Time Sports Betting Revenue High in New York for March

Written by: Michael Savio
Published April 17, 2023
8 min read

Sports betting has been growing in popularity ever since its launch in New York. March saw record-breaking revenue numbers for mobile sports wagering sites. The New York State Gaming Commission recently reported that these sites generated almost $1.79 billion in revenue in March. This is a significant increase from the $1.47 billion earned in February and $1.64 billion earned in Mar. 2022.

The increased revenue was mainly attributed to the NCAA basketball tournament. The tournament typically generates a lot of excitement and attracts a lot of bettors. While March's revenue numbers fell just short of the all-time record set in January 2023, bookmakers still did better than ever regarding revenue. 

According to the gaming commission, online sportsbooks generated $162.8 million in gross gaming revenue in March 2023, a significant increase from the $108.3 million earned in February and the $114.3 million earned in Mar. 2022.

The revenue generated in March is also the highest ever generated by New York sports betting since mobile wagering was launched in January 2022. The online sportsbooks' gross revenue translated into a 9.1% hold for operators, an improvement over the 7.4% win rate reported in Feb. 2023.

New York 3rd Party Sports Betting Advertisers & Affiliates Legal Updates

How the Top Sportsbook Performed

FanDuel was the leader in handle among sports betting operators in March, reporting $740.1 million in mobile sports wagering and $79.6 million in revenue. DraftKings placed second with $589.8 million in mobile wagering and $52 million for their gross revenue. While Caesars was third with $237.5 million in handle and $15.2 million in revenue.

Tax Revenue

The New York State Gaming Commission also reported $343.3 million in online sports betting for the week ending Apr. 9, 2023, which is up slightly from $339.9 million the week before. 

The increased revenue generated by online sportsbooks in New York is a positive development for the industry. It also demonstrates large-scale sporting events' impact on betting activity. With the rise of mobile sports betting, revenue numbers will likely continue to climb in the coming years.

Overall, March 2023 was a significant month for sports betting in New York, and the increased revenue generated by online sportsbooks is a positive development for the industry. It will be interesting to see how the New York market and the rest of the country will perform as baseball season and golf gets into the heart of their seasons.

Image for Michael Savio

AUTHOR

Michael Savio

352 Articles

Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.

More info on Michael Savio
We've been featured on:
espn logo
reuters logo
cbs-news logo
forbes logo
entrepreneur logo
entrepreneur logo
We only list licensed sportsbooks
WorldSportsNetwork
WorldSportsNetwork
WorldSportsNetwork
WorldSportsNetwork

© Rebel Penguin ApS 2024 (a subsidiary of Gaming Innovation Group Inc.)

We support responsible gambling. 21+ Only. Gambling problem? Call 1-800-Gambler.

WSN.com is run by iGaming Cloud Inc (a Gaming Innovation Group Subsidiary) and is registered with the New Jersey Division of Gaming Enforcement (DGE) under affiliate vendor ID 89744, with the Indiana Gaming Commission (IGC) under certificate of registration number SWR-000148, approved by the Pennsylvania Gaming Control Board as a gaming service provider, under certificate registration number 117656-1, possesses a Vendor Minor sports betting license from the Colorado Limited Gaming Control Commission (account number 94414163), granted a vendor registration number VR007603-20-001 by the Michigan Gaming Control Board, an interim Sports Wagering Supplier license, under license number SWS 066, issued by the West Virginia Lottery Commission, a sports betting vendor registration, under registration number #100400, issued by the Director of Gaming Licensing and Investigations of the Virginia Lottery to operate in the State of Virginia, and a Vendor Registration issued by the Sports Wagering Committee of the Tennessee Education Lottery Corporation.

Advertising disclosure: WSN contains links to online retailers on its website. When people click on our affiliate links and make purchases, WSN earns a commission from our partners, including ESPN and various sportsbooks.