New York City's Online Sportsbooks See Profits Drop throughout March Madness' 2nd Weekend

The second weekend of the NCAA Tournament wasn't almost as rewarding as the first for New york city's eight online sports wagering operators.


- The manage during the week ending March 29 was down 11% from the previous week and even steeper year over year.


- FanDuel represented more than a third of New York operators' profits.


- Fanatics and BetMGM struggled throughout the Sweet 16 and Elite 8.


The manage during the week ending March 29 dipped 11.3% from the previous week to $492.1 million, and mobile sportsbooks won back 7.5% to claim $36.9 million in gross income, the New York State Gaming Commission recently reported.


Profits fell week over week by 36%, and New York sports wagering operators produced their lowest gross profits given that the week ending Jan. 25. Still, the week of the Sweet 16 and Elite Eight wasn't anything like the previous year when all four No. 1 seeds reached the Final 4.


During an extraordinary run by favorites, the very same week in 2025 resulted in a 1.6% hold and simply $8.4 million in gross earnings from a $522.4-million handle. This year, all 8 online operators completed in the black, unlike in 2025.


Eating up profit


FanDuel's $174.2-million manage represented 35% of the entire quantity bet in New York during the week. The online operator likewise led the state with gross revenue of $16.7 million behind an 11.3% hold, well above the $4.3 million made throughout the very same week in 2025.


Combined with DraftKings' $15 million in weekly profits, the two sportsbooks comprised 86% of all operator revenue. DraftKings recovered 9.5% of a $157.3-million handle, with the week's year-over-year earnings increasing a huge 1,150%.


Revenue difficult to come by


Fanatics ended up with the third-best handle with $66.