March 2026 Wyoming Sports Betting Handle Hits $28.5M, DraftKings Captures Two-Thirds of Action

The Wyoming Gaming Commission released its March 2026 Wagering Activity Report this week, and the headline number is impressive: $28,474,116 in online sports betting handle, a 53.6% jump from February and the highest monthly handle of Q1 2026. Here's what the data tells us about the state's sports betting market and how the five licensed operators stack up.

March 2026 by the numbers

Operator	Handle	Share	GGR	Hold	Tax Due
DraftKings	$18,951,370	66.6%	$734,764	3.88%	$80,624
FanDuel	$4,883,471	17.1%	$615,589	12.61%	$43,417
BetMGM	$2,031,423	7.1%	$307,285	15.13%	$11,032
Fanatics	$1,366,405	4.8%	$121,364	8.88%	$7,559
Caesars	$1,241,446	4.4%	$165,147	13.30%	$14,738
Total	$28,474,116	100%	$1,944,150	6.83%	$157,370

What drove the 53.6% month-over-month jump

The single biggest driver was March Madness. The NCAA Tournament First Round (Thursday and Friday of week one) is consistently the largest cumulative handle window of the Wyoming year, and 2026 was no exception. February's lower number ($18.5M) reflected a quieter post-Super Bowl calendar; March's $28.5M captures the bracket explosion. We covered the strategy angle in our March Madness 2026 recap.

Three-month Q1 2026 picture, per WGC reports:

• January 2026: $23,345,037 handle
• February 2026: $18,534,354 handle
• March 2026: $28,474,116 handle
• Q1 total: $70,353,507 handle

DraftKings dominates handle, but FanDuel converts better

The most striking number in the March report isn't the total, it's the operator split. DraftKings captured 66.6% of all handle, an almost 4-to-1 lead over second-place FanDuel. That's a remarkable share concentration even by U.S. sports betting standards, and it reflects DraftKings' first-mover advantage in Wyoming (live since September 1, 2021) plus its product depth.

But handle is only half the story. Hold rate, the percentage of handle a book retains as gross gaming revenue, flipped the script:

• DraftKings: 3.88% hold, well below industry norm of 6-10%. Bettors had a strong month against the book.
• FanDuel: 12.61% hold, much higher than typical. Either FanDuel's books ran luckier, or its product mix (heavier on parlays and SGPs, which carry higher hold) tilted revenue upward.
• BetMGM: 15.13% hold, also elevated, suggesting parlay-heavy customer mix.
• Caesars: 13.30% hold.
• Fanatics: 8.88% hold, closest to industry norm.

The result: FanDuel's revenue ($615,589) was 84% of DraftKings' revenue ($734,764) despite handling only a quarter of the volume. For Wyoming bettors, that gap matters, it means DraftKings paid out an unusually high share of bets in March, while FanDuel and BetMGM ran tighter margins.

One-month variance vs. long-term hold

Before reading too much into March, two caveats. First, single-month hold figures swing on game outcomes, a few high-handle favorites winning or losing flips the math. DraftKings' 3.88% reflects bettor-friendly results; FanDuel's 12.6% reflects book-friendly results. Both are likely to mean-revert toward 6-8% over a full year.

Second, the product mix matters. Books that lean into same-game parlays and multi-leg parlays structurally hold more, these bet types carry 10-25% hold by design. FanDuel's industry-leading SGP product is a known structural driver of higher revenue per dollar of handle.

Tax implications and the rate-increase debate

March's $1.94M GGR generated $157,370 in state tax due (10% of taxable gaming revenue). Annualized at March's pace, that's roughly $1.9M in annual sports betting tax revenue to Wyoming, a meaningful contribution but small relative to the state's general fund.

This is the context for the legislative debate over a proposed tax-rate increase from 10% to 20%. Doubling the rate would, on March's numbers, push Wyoming's monthly tax take to roughly $315K. The trade-off: higher tax rates compress operator margins, which historically reduces promotional spending and welcome-bonus value to bettors. We covered the legislative debate in our Q1 2026 recap.

What this means for Wyoming bettors

• DraftKings remains the default choice for a primary account. Two-thirds of state handle goes there for a reason, deepest markets, fastest live betting, biggest product depth. See our full DraftKings Wyoming review.
• FanDuel is the line-shopping pair. Sharper sides, best SGP pricing, but the higher hold means picking your spots matters. See our FanDuel review.
• March 2026 was a good month to be a bettor at DraftKings. Whether that pattern persists into April/May depends on outcomes, bet selection still matters more than book selection over the long run.

Looking ahead

Q2 2026 should see April handle moderate from the March Madness peak. Expected drivers: NBA playoffs (mid-April through June), MLB season open, NFL Draft markets. We'll publish the April 2026 WGC report analysis when the Commission publishes it in late May.

For ongoing market coverage, see our news section. For the underlying market guide, see Wyoming sportsbooks and sports markets.

Source: Wyoming Gaming Commission Wagering Activity Report, March 2026.