March Madness lifts DraftKings past FanDuel in New York
DraftKings overtook FanDuel for revenue for the first time in 15 months, as New York state sports betting operators reported March revenues. FanDuel’s winnings fell 18.6%, while those of DraftKings rose 28.3%.
Overall, revenue was up 6.7% on a handle of $2.4 billion, a 32% jump. Books held at a range between 5.2% (Caesars Sportsbook) and 7.4% (ESPN Bet). The average hold was 6.6%.
DraftKings prevailed narrowly in terms of handle share, besting FanDuel 37.4% to 35.3%. The next-largest handle share was BetMGM’s 6.9%, followed by Caesars’s 6.6%. ESPN Bet captured 2.2% of handle.
The least lucrative operators were Resorts World Bet, with US$400,000, and Bally Bet, which grossed US$200,000. At the high end, DraftKings realized US$62.6 million for first place, followed by FanDuel with US$59.5 million.
BetMGM captured US$11 million, a 40.9% increase, and Caesars US$8.5 million, a 37.9% falloff. Fanatics Sportsbook leapfrogged both with US$12.9 million, a 239.8% improvement. ESPN Bet grossed US$4 million, up 1,284.6%.
David McKee is an award-winning journalist who has three decades of experience covering the gaming industry.
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