In the latest PayPerHead News, sports betting continues to thrive across the country, with the numbers starting to increase as we near football season. For New York sportsbooks, their weekly handle shows a decline, but the hold gives us a boost in revenue.
According to the latest report from the New York Gaming Commission, the total handle for the week that ends August 27 is at $212.2 million. This is 9% lower than the previous week. The handle is usually lower than usual during the summer months. But when football betting opens in September, we will generally start to see an upward trend in betting handle.
Your bookie pay per head software can help you keep track of your handle, hold percentage, and revenue. Simple head on over to the reports section, select the data you want to see, and generate the report. This will help you understand your sportsbook and your market, like what we do when we analyze betting markets across the country.
New York Sportsbooks Are Still Earning Well
For the same week, sportsbooks in the state have a revenue of $21.4 million. This is just 1% lower than the previous week, so the difference is quite negligible. What is good for sportsbooks is that the hold is back up at 10.1%, which is the first double digit hold since the first week of August. Year-over-year data looks good as well, with a 9% increase in handle, and 9.7% increase in revenue.
In addition, sportsbooks are seeing the weekly handle at over $200 million and revenue of upwards of $20 million for six straight weeks. When you manage your own sportsbook, you will want to see your handle and revenue retain its numbers, or, even better, increase.
A lot of betting during this month goes to baseball, with the MLB getting near the playoffs. We will be seeing higher handle, and potentially higher revenue for sportsbooks in the next few weeks. Once the game between the Detroit Lions and the Kansas City Chiefs kicks off on September 7, expect sportsbooks to see a huge surge in betting activity. And if you start with these bookie pay per head reviews and open your sportsbook, you will be just in time for football betting season.