In the latest gambling news, we at Easy Pay Per Head are looking at the largest sports betting market in the country- New York. The Empire state has enjoyed a 15-week streak of recording more than $400 million in betting handle. But the latest reports are showing New York sportsbooks taking in less wagers, with the total weekly handle dropping below $400 million.
According to the latest report from the New York Gaming Commission, the total handle for the week ending May 26, the total sports betting handle is at $389.7 million. This is the lowest handle reported since the week ending February 2, and the third lowest since early October last year.
New York Sportsbooks Numbers in May
The decrease in handle can easily be attributed to the decreasing numbers of sports events during the month. A big factor as well is that this is the same week that the New York Knicks were eliminated from the NBA playoffs. But betting activity is still very healthy, despite the drop. You still have the MLB, and of course the NHL, where the pro hockey league is nearing the Finals. The New York Rangers are still in the race for the Stanley Cup so the drop in handle is not that drastic as wee see a lot of action there. You too can generate the weekly handle of your sportsbook to analyze your data. If you do not have the tools to do so, head on to these bookie pay per head reviews and find a good provider that suits your needs.
Aside from the handle, we also take note of the hold percentage. This statistic remains high in New York. With an 11.7% hold, it means sportsbooks earned more and took in $45.5 million in weekly gross revenue. This brings the total May revenue at $160 million for the first three weeks of the month.
Sports Betting Winners
Using software from providers like Sports Betting Solution Asia can give you the tools to analyze your sportsbook’s data as well. You can easily see betting trends, your revenue, player betting habits and more. You can then use the information to strategize ways to improve your sportsbook’s numbers.
For New York, the numbers are holding strong as other states also report lower betting handles. New York is holding strong because even if the handle has dropped, revenue remains well. Plus, the decrease is similar with other markets. When this happens, its usually a market trend. The culprit is mostly a slower sports calendar as we head into summer. The highest handle reported in a single sportsbook sis at $155.7 million with $20.4 million in revenue from DraftKings. Remember that this is a weekly handle. The numbers from that sportsbook alone has similar numbers witha small state with a small sports betting market.
