Conference Tournament Week A Hit With New York Sports Bettors

Written By Mike Mazzeo on March 18, 2022
ny sports betting march madness week 1

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.

Photo by Wayne Parry / AP
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Mike Mazzeo

Mike Mazzeo is a contributing writer for PlayNY, reporting on legal sports betting in New York while covering the potential legalization of NY online casinos and poker. He previously wrote for ESPN, the New York Daily News and The Ringer, among others.

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