New York’s love affair with mobile betting shows no signs of slowing down. March proved to be another winning month, with the state recording its second-highest weekly handle ever and all nine licensed operators bringing in positive revenue. Let’s dive into the details and see why the Empire State remains a champion in the mobile sports betting arena.
Green Lights All Around: Revenue on the Rise
Get this: New York’s mobile sports betting market raked in a whopping $41.9 million for the week ending March 31st. That’s a 34.4% jump compared to the previous week, fueled by a higher win rate and a healthy $456.4 million in wagers placed. Even with a slight decrease from the record-breaking handle, it marked the 25th time in the past 27 weeks that bets surpassed a cool $400 million! This consistency is a clear indicator of New Yorkers’ enthusiasm for placing their bets on the go.
FanDuel Takes the Lead, Others Hold Strong
FanDuel continues to be the MVP of New York’s mobile betting scene. They became the first operator to achieve back-to-back weeks with over $200 million in wagers, solidifying their top spot. DraftKings followed closely, surpassing the $1 billion mark in all-time winnings. Even the newer players like Fanatics Sportsbook (who recently acquired PointsBet) are making waves, recording seven-figure revenue for three consecutive weeks.
Big Wins for New York State Mobile Betting
This mobile betting boom isn’t just good news for sports fans and operators; it’s a major win for New York State. With all operators reporting positive revenue, the estimated tax haul for the week sits at a cool $21.3 million. Looking at the bigger picture, the combined March handle across the five weekly reports suggests the Empire State might even shatter its own national record for monthly handle!
The Future Looks Bright for Mobile Betting
While WynnBET might be experiencing a dip in handle, the recent sale of their licenses to PENN Entertainment signals exciting possibilities. The potential introduction of ESPN BET into the New York market could inject even more energy into this already thriving mobile betting scene.
New York’s mobile betting market is a touchdown for everyone involved. Sports fans enjoy the thrill of placing bets, operators see healthy returns, and the state benefits from significant tax revenue. With this level of success, it’s safe to say that New York’s mobile betting throne remains secure for the foreseeable future.
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