Weekly Sports Betting Picks Up at New York Sites as March Madness Approaches

However, the New York market could be subject to tweaking soon, as there is a swath of proposed legislation and regulatory changes under consideration regarding advertising.

Online sports betting sites in the Empire State saw business pick up again last week after a bit of a letdown following the Super Bowl.

Numbers reported Friday by the New York State Gaming Commission show the state’s nine mobile sportsbooks handled $353.8 million in bets during the week ended February 26, up from $339.6 million the week before. 

Gross gaming revenue from New York mobile sports betting last week was $28.4 million, up from $23 million for the week ended February 19 and good for a hold of 8%. 

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Among operators, FanDuel was again the clear leader, racking up $146.5 million in handle and $11.7 million in revenue. DraftKings was second, with $115 million in wagering and $9.8 million in revenue. Third once more was Caesars Sportsbook, with $46 million in bets taken and almost $3 million in revenue.

The latest numbers come in the wake of the Super Bowl and the end of the NFL season, two popular betting targets. They also come with March Madness right around the corner, and the annual college basketball tournament is likely to generate plenty of interest in the Empire State. 

Furthermore, the weekly results thus far mean February was another billion-dollar wagering month for New York’s online sports betting sites. However, the New York market could be subject to tweaking soon, as there is a swath of proposed legislation and regulatory changes under consideration regarding advertising.