New York sports betting: Handle dips in March, but operators are winning more than ever
Even while sports betting handle is decreasing in New York, sportsbook operators are having plenty of success
March of 2026 was an interesting one for sports betting in New York. Bettors in the Empire State wagered $2.33 billion, which was down 4.7% from March of 2025. That continues a trend of softening handle in the nation's largest sports betting market.
While the overall handle was down for New York bettors, operators actually had their best March revenue on record at $218 million, up 34% from this time last year. Additionally, the state of New York raked in $111 million in taxes from sports betting last month. A big reason for that is hold rates, as New York operators boasted a 9.3% hold rate compared to a national rate below 7%. Hold rate in New York has yet to eclipse 10%, but it appears things are trending that way.
The dip in handle is hardly a one-month anomaly for New York. It's up roughly $300 million from February, it's been trending down overall since racing $2.6 billion in October. Additionally, the state of New York isn't alone in seeing its sports betting handle decline. Iowa, Indiana and Kansas all saw declines in handle for March as well. Going back to New York, the handle is still well up from 2022, 2023 and 2024, so this may be less of a decline and more of a plateau for a sports betting market that is more mature than some other states across the country that are a bit newer to the party. Plus, operators are still boasting large profit rates even as handle starts to cool and stagnate.
FanDuel in particular had a good month of March in New York compared to other sports betting apps. While FanDuel saw a decrease of roughly 6% in handle from March of 2025, DraftKings' handle fell 17% year over year. Additionally, FanDuel boasts a hold rate above 12% in New York. Fanatics Sportsbook grew considerably, according to recent data, as it appears to be cementing itself as the No. 3 book for New York bettors behind FanDuel and DraftKings. Fanatics is up 46% with a 13% handle share.
Online betting is king where it's available, and that was especially true in New York. Combined in-person handle was down 45% year over year, and it's down more than 80% from its March 2021 peak. March 2026 was one of the worst months for retail sports betting in New York.
