Three Online Sportsbooks Top $1 Billion Each in New York

Mobile sports betting in New Yorkcontinues to rack up impressive numbers, with three online bookmakers each handling more than $1 billion in bets so far this year.

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Since the start of mobile wagering in January, three of the eight online bookmakers operating in New York have passed the billion-dollar-handle mark.

The “handle” is the amount of money bettors wager on sporting events.

Here are the totals from the three that exceeded $1 billion from Jan. 8 to March 20:

  • FanDuel New York Sportsbook: $1.55 billion
  • Caesars New York Sportsbook: $1.14 billion
  • DraftKings New York Sportsbook: $1.06 billion

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Overall, the eight online bookmakers combined have eclipsed $4.35 billion in bets placed statewide, according to totals released Monday by the New York State Gaming Commission.

Weekly Total Exceeds $400 million

For the week of March 14-20, bettors wagered $427.9 million in New York. This includes bets placed on the NCAA March Madness basketball games.

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FanDuel had the largest handle at $167.9 million during the week.

Saint Peter’s Sparks Betting Bounce

The overall betting total for week ending March 20 might have gotten a bounce from New Jersey bettors crossing the state line to wager on the Saint Peter’s Peacocks.

The Peacocks are a Jersey City, New Jersey, favorite that scored surprising wins that week in the men’s NCAA Basketball Tournament over Kentucky and Murray State.

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New Jersey bettors are prohibited from wagering legally on in-state college teams.

After a Cinderella run that saw Saint Peter’s reach the Elite Eight, the Peacocks were eliminated Sunday by the North Carolina Tar Heels, 69-49.

BallyBet Expected To Launch Soon

On-site sports betting began in upstate New York casinos in July 2019, but mobile wagering wasn’t legal until this year on Jan. 8.

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Of the nine online bookmakers authorized to operate in the state, only one, BallyBet New York, is not yet live. It plans be up and running next month in New York.

With a population of more than 19.4 million, New York is the nation’s largest sports betting market. California, Texas and Florida each have more residents than New York, but sports betting is illegal in those states.

Since the launch of mobile wagering, New York has benefited from major sporting events, including the NFL playoffs, the Super Bowl and March Madness.

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