New York City's Online Sportsbooks See Profits Drop throughout March Madness' Second Weekend
The 2nd weekend of the NCAA Tournament wasn't nearly as rewarding as the first for New York's 8 online sports betting operators.
- The manage throughout the week ending March 29 was down 11% from the previous week and even steeper year over year.
- FanDuel represented more than a 3rd of New york city operators' revenues.
- Fanatics and BetMGM had a hard time during the Sweet 16 and Elite 8.
The deal with throughout the week ending March 29 dipped 11.3% from the previous week to $492.1 million, and mobile sportsbooks won back 7.5% to claim $36.9 million in gross revenue, the New York State Gaming Commission just recently reported.
Profits fell week over week by 36%, and New york city sports wagering operators produced their least expensive gross earnings since the week ending Jan. 25. Still, the week of the Sweet 16 and Elite Eight wasn't anything like the previous year when all 4 No. 1 seeds reached the Final 4.
During an extraordinary run by favorites, the same week in 2025 led to a 1.6% hold and simply $8.4 million in gross profits from a $522.4-million manage. This year, all eight online operators completed in the black, unlike in 2025.
Eating up revenue
FanDuel's $174.2-million deal with represented 35% of the entire amount bet in New york city during the week. The online operator also led the state with gross profits of $16.7 million behind an 11.3% hold, well above the $4.3 million made during the very same week in 2025.
Combined with DraftKings' $15 million in weekly earnings, the 2 sportsbooks comprised 86% of all operator revenue. DraftKings recovered 9.5% of a $157.3-million handle, with the week's year-over-year income increasing a 1,150%.
Revenue tough to come by
Fanatics ended up with the third-best manage with $66.4 million in wagers, however the online operator stopped working to even match recently's 6% hold, winning back simply 5.1% during the week ending March 29. BetMGM had an even worse week, producing a 2.2% hold on a $38.5-million handle, but a minimum of the operator didn't end up in the red like it provided for in 2015's Sweet 16 and Elite 8.
Caesars recovered $2.4 millon on a $31.6-million deal with, while theScore Bet was the only other operator to clear $1 million in weekly earnings. BetRivers produced a 5.3% hold on a handle of a little over $10 million, while Bally Bet fell just shy of a double-digit win rate on $3.4 million in wagers.