Our latest bookie news covers New York sportsbooks, which form one of the largest and most profitable betting markets in the country. The state of New York releases reports on sports betting activity on a weekly and monthly basis. Aside from transparency, this allows us to gain a better understanding of the sports betting industry. Thus, it is easier to predict trends, anticipate changes, and be better equipped and prepared to adjust to any of the changes in the market.
Tracking your betting activity is something that you can also easily do in your Bookie PPH software. You can also identify the sources of wagers, as well as what sport, or sporting event gets the most wagers in a specific time period. After which, you can also easily compute for the revenue that sportsbook makes for that period as well.
For the latest numbers from the New York Gaming Commission, we have a weekly handle of $161.96 million for the week ending July 16. This is the slowest week that the state has recorded not just this year, but for almost 12 months. The last time sportsbooks in New York saw a weekly handle lower than $200 million was back in the week ending July 24, 2022.
New York Sportsbooks Have Slow Week
If you notice, both dates that have the lowest handle are in July. This tells us that historically, July is a slow month for sports betting in the state. If you check your betting software, you may see similar data in your sportsbook. General trends like this is usually a direct effect of the sports calendar. Keep in mind that in the US, football and basketball are both out of commission. This means that there will be a lot less events to bet on.
Revenue for the week also slips, by around 23.7% from the previous week from $22.8 million to $17.4 million. This is also the first time that revenue dips below $20 million a week. Meanwhile, the hold is at 10.74%. This is higher from the previous week’s 9.6%. Normally, this would yield better revenue. But since the decrease of handle is a bit much, the higher hold is not enough to boost weekly revenue.