In the latest gambling news, we are taking a look at New York sportsbooks, which form the largest betting market in the country. Since online sports betting went live in the state, it has not been uncommon to see hundreds of millions being wagered on a weekly basis. However, the slow season for sports betting in the US is here, and even New York is not spared.
If you run your own sports betting business, and use software from the best bookie pay per head companies, then you can also easily determine and track your sportsbook’s activity. You should be keeping track of your handle, payouts, revenue, and the hold percentage. It will help you determine the status of your sportsbook vis a vis the betting market in general.
New York Sportsbooks: Numbers are a Mixed Bag
As we look at New York’s numbers, you first need to know that the state’s regulatory body tracks sports betting in the state as frequently as each week. You can also do this with your pay per head sportsbook software. In fact, you can even check the daily activity. But for New York’s report, we’ll look at week-on-week numbers.
The state’s sportsbooks are seeing less handle for the week ending June 18. The handle for the week prior is $298.7 million, while the week ending June 18 is at $278 million. Given that we are still on a 9-digit weekly handle amount, the numbers still indicate a healthy betting market.
Meanwhile, the Gross Gaming Revenue, or GGR for short, for the week prior was at $26 million, while the week ending June 18’s rises to $27.19 million. Again, this is also a good indicator, as it means that even with less action, sportsbooks earned more for this period.
This is not an unusual situation in sportsbooks. If you look at previous reports in your sports betting solution software, it may have happened to your sportsbook as well. Sportsbooks can still register higher revenue despite decreasing handle if the hold percentage increases.