Breaking News: DraftKings Takes the Lead in New York's March Madness Sports Betting Revenue
DraftKings surpasses FanDuel during the March Madness sports event.
Yo, check out this story by David McKee on our site
Step aside, FanDuel! DraftKings has snatched the top spot in terms of revenue for the past 15 months, as sports betting operators in New York reported their March figures. FanDuel's profits plummeted by a hefty 18.6%, while DraftKings saw a whopping 28.3% increase.
The total revenue surged by an impressive 6.7% on a $2.4 billion handle, which marked a mind-blowing 32% jump. The margins ranged from a lean 5.2% (Caesars Sportsbook) to a beefy 7.4% (ESPN Bet). The average margin stood at 6.6%.
DraftKings clinched the victory in terms of handle share, nipping at FanDuel's heels with 37.4%, compared to FanDuel's 35.3%. BetMGM followed closely with a robust 6.9% handle share, trailed by Caesars at 6.6%, and ESPN Bet capturing a modest 2.2%.
The least profitable operators were Resorts World Bet ($400,000) and BallyBet ($200,000), while DraftKings reaped a massive $62.6 million, edging FanDuel's $59.5 million. BetMGM grossed $11 million, marking a significant 40.9% increase, while Caesars reported a less favorable 37.9% decrease at $8.5 million. Fanatics Sportsbook leaped over both with a staggering $12.9 million, a jaw-dropping 239.8% growth. ESPN Bet added $4 million to the pot, up an astonishing 1,284.6%.
Looking ahead, it seems like FanDuel still dominates the weekly revenue share, while DraftKings is going for volume. Whether this shift in strategy pays off, only time will tell! Keep an eye on our site for updates on this fiery competition.
[1] Source: New York State Gaming Commission
[3] Source: Sports Handle, detailing March 30, 2025, week revenue data
- ESPN Bet's sports-betting revenue saw an astronomical increase of 1,284.6% in the recent figures reported by the New York State Gaming Commission.
- Despite a narrow 0.1% lead, DraftKings has consistently held the top spot in sports-betting revenue for the past 15 months, even edging FanDuel's revenue by nearly $3 million in the latest figures.
- Averaging at 6.6%, DraftKings, FanDuel, BetMGM, and ESPN Bet were the top four sports-betting operators in terms of margin in New York, according to Sports Handle's analysis of week revenue data as of March 30, 2025.
