DraftKings Snags New York Betting Crown in March
DraftKings yanked the lead from FanDuel in New York for the first time in over a year. According to the New York State Gaming Commission, DraftKings handled $912.1 million in bets, edging out FanDuel’s $862.2 million.
A Surprising Flip at the Top
Revenue told a similar tale: DraftKings raked in $62.6 million to FanDuel’s $59.5 million. “DraftKings is closing the gap,” an X post noted, and the numbers back it up.
Together, these titans owned 72.7% of March’s bets, proving the state’s market is a two-horse race with plenty of action.
FanDuel’s hold percentage hit 6.9%, a hair above DraftKings’ 6.86%. Yet DraftKings’ sheer handle pushed it ahead, a sign it’s gaining steam.
New York’s total betting haul for March reached $2.43 billion, the second-highest month in fiscal year 2024-25, trailing only January.
That’s a 31.9% jump from March 2024, but gross gaming revenue (GGR) landed at $161.8 million, down 12.4% from February and 34.5% off January’s record. The state’s average hold was modest 6.63%.
The Full-Year Picture
Zoom out to the whole fiscal year, April 2024 to March 2025, and New York’s market smashed records. The total handle soared to $23.94 billion, a 21.9% spike from 2023-24’s $19.64 billion, making it the biggest annual betting haul in any U.S. state ever.
FanDuel stayed king for the year, processing a monster $9.2 billion in bets and pocketing $969.8 million in revenue. DraftKings trailed close, with $8.6 billion in bets and $727.9 million in revenue, showing it’s ready to scrap for the top spot.
Other players lagged behind. Caesars posted $1.45 billion in bets and $131.4 million in revenue, while BetMGM managed $1.71 billion in bets for $121.4 million Fanatics, still climbing, saw $1.61 billion in bets and $120.2 million in revenue.
March’s Supporting Cast
March’s pecking order echoed the year’s trend, but with tweaks. Fanatics held third, banking $12.9 million off $207.5 million in bets, a solid showing for a newer face.
BetMGM nabbed $11 million from $169.2 million in bets, while Caesars scored $8.5 million on $162.1 million. Rush Street Interactive kept it steady with $2.9 million from $51.8 million in bets. Resorts World Bet and Bally Bet scraped by, with $376,410 and $261,876 in revenue, respectively.
The state’s 51% tax rate on GGR kept coffers full, March alone likely fed millions to education and problem gambling programs, like the $6 million yearly addiction fund. But softer revenue versus January shows bettors got luckier, squeezing operator margins.
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