Boston-based DraftKings led all challengers in the nation’s most lucrative mobile sports betting market in March with a handle nearly $200 million more than runner-up FanDuel.
March Madness
March proved to be the second-highest sports betting month in New York’s history, with its mobile sportsbooks generating a combined handle of $2.43 billion, nearly toppling the record of $2.48 million set in January 2025. It also reflected a nearly 32% increase over March 2024.
Despite the staggering volume of wagers, the hold (win rates) proved to be low, as bettors won their fair share of sports bets, which diminished gross gaming revenues. March 2025 revenues of $161.8 million were up 6% year-over-year but were significantly short of January’s $247 million.
FanDuel Trails, But the Duopoly Holds Strong
DraftKings proved to be the ruler of New York’s sports betting realm in March, generating a $912.1 million handle, an increase of 27.1% over February’s $717.4 million handle. The Boston-based bookmaker also led the field with gross gaming revenue of $62.5 million courtesy of a 6.86% hold. DraftKings’ revenues were 21.2% higher than the previous month.
New York-based FanDuel reported a handle of $862.1 million, delivering gross gaming revenue of $59.4 million from that handle on a 6.9% hold, its lowest monthly revenue since August 2024. However, the nation’s sports betting duopoly still handled 72.7% of the New York market in March.
Fanatics took the bronze medal in March with a $207.5 million handle, generating $12.9 million in GGR on a 6.22% hold. BetMGM was next with $169.2 million in accepted wagers, which left one of the sector’s newest entries with $11 million in revenues on a 6.49% hold.
Season-Long Props in New York
The Empire State’s gaming champion, Senator Joseph Addabbo Jr., sponsored SB 2616, which would allow season-long props and sports awards such as MVP, Rookie of the Year, etc. A Senate committee approved the bill in February, but it has been in limbo ever since.
The bill is intended to compete with offshore sportsbooks that routinely offer these wagers and will drive New York’s wildly successful sports betting market to even greater heights. Moreover, Senate Bill 2613 would allow lottery winners in New York to maintain their privacy and not be forced to share their identities with the public.
Addabbo Jr. has also been at the vanguard of promoting iGaming legislation. However, that bill remains in committee, and Addabbo, the Chairman of the Senate Racing, Gaming, and Wagering Committee, has pointed out that such legislation needs the support of the governor to pass. “It has to be the governor who drives the bus,” Addabbo said. “I’m not very hopeful this session because it can’t just be me. I need the governor to engage, and she doesn’t want to engage.”
