New York sportsbooks did quite well during their first-ever conference tournament week.
From March 7-13 — as college basketball teams competed for an automatic bid into the NCAA Tournament — NY online sports betting operators amassed $406.4 million in total bets. That’s the highest total since Super Bowl week ($472.1 million from Feb. 7-13).
Operators received $36.9 million in total gross gaming revenue (GGR) from March 7-13, translating into $18.8 million in tax revenue for the state.
The numbers during the NCAA Tournament will be even higher, as NY takes advantage of March Madness betting for the first time.
FanDuel NY led the way as usual in both handle ($173 million) and market share (43%) from March 7-13. Then came DraftKings ($103.1 million, 25%), Caesars ($66.9 million, 16%) and BetMGM ($40.5 million, 10%).
NY sports betting totals — so far
Overall, NY online sports betting operators have handled $3.9 billion in wagers, which has led to $274.6 million in total GGR and $140 million in tax revenue for the state.
Only one NY team qualified for the NCAA Tournament: Colgate.
NY bettors cannot bet on in-state college teams as per state regulations. Bettors are eligible to bet on the NCAA Tournament games in Buffalo.
