New York has released its final set of results for mobile sports betting in the 2023/24 fiscal year.
Last month, the state surpassed its total handle for the 2022/23 fiscal year prior to March’s results being released, with these latest figures helping to further push a record second full fiscal year of legal mobile sports betting.
In total for the 2023/24 fiscal year, handle wasn’t far off reaching the $20bn mark, hitting $19.6bn, while gross gaming revenue (GGR) was set at $1.76bn.
Looking at March’s numbers specifically, mobile sports wagering handle increased slightly from the same period last year from $1.79bn to $1.85bn. This figure was also only a 4.3% month-on-month rise but was still the fifth-largest handle the state has recorded in a single month, since the first month of operation of legal mobile sports betting in January 2022.
March Madness of course started in mid-March, which helped handle increase from February.
In terms of GGR, for March it was set at $151.7m, growth when compared with February when it was valued at $131.4m, but a fall compared with last year. Year-on-year, GGR decreased 6.8%, with last year’s March GGR the fifth-highest New York has achieved.
During March, looking at some of the operators in New York, FanDuel slightly improved on its dip in numbers during February, increasing its GGR month-on-month by just under $10m. When compared with February, BetMGM upped its GGR by a massive 1243.4%. For DraftKings, despite a rise in its handle, GGR actually went down from $53.4m in February to $48.8m in March.
PointsBet changed to Fanatics at the end of February and its opening month saw handle drop 35.8% in March from February’s number, though GGR did increase to $3.8m.
