When reading the latest news and online gambling insight, online sportsbooks in New York always tend to come up. This is because they are the top sports betting market in the state. Furthermore, they also give us a different perspective in analyzing sports betting. Most betting markets release monthly reports on the handle, hold, and revenue. But New York is different because aside from monthly and annual reports, they also release data on a weekly basis.
This allows us to analyze betting trends and behaviors better, since we can pinpoint the sports events versus betting activity on a closer range. If you use a good pay per head sportsbook software, you can also do this with your bookie operation. Doing so will help you analyze your sportsbook’s numbers better, and figure out how you can push to improve your handle and revenue as well.
Online Sportsbooks in New York Enjoy Boost in Betting
In the week that ends April 21, sportsbooks in the Empire State record $455.8 million in bets. While 6.5% lower than the previous week, the hold more than doubled from 5.6% to 12.6%, which means that sportsbooks have better revenue for the week. If you look at your Bookie PPH software, you can also calculate your hold percentage to find out how much you are earning from sports betting.
Revenue from sportsbooks in New York soars to $57.3 million- this is a 109.1% increase from the previous week. Thus is one of the best-performing weeks of the year. The handle, despite the decrease, is also still good, as it stretches the record of the state to have more than $400 million in weekly handle in 27 out of 28 weeks.
This sort of handle is something that states see in a month- but for New York, it only signifies activity for a week. This is how large their betting market is. The numbers are also performing well- especially since football season is on break. Currently, bettors can place wagers on the NBA and the NHL, both of which are now in the playoffs. MLB betting is also heating up as we are in the first month of the season, and a smattering of betting on sports like tennis, golf, and even Olympics betting also contribute to the handle.
