The New York State Gaming Commission releases weekly sports betting data. For those learning how to be a bookie, some states offer monthly reports, but seeing how the market performs each week is also a good statistic to have. In fact, when you have your own sportsbook, you should be doing the same. But going back to the details of October sports betting in New York, the last week of the month ending October 30 gives us a $345.3 million handle.
And if you are getting hundreds of millions of wagers each week, it would be worth reporting that frequently too. The sports betting action that New York sportsbooks see in a week is what sportsbooks in other states see in a whole month. So when you build a bookie business, make sure you know your potential customers well so you can gain more players.
October Sports Betting in New York Shows Football Boost
Much like any pay per head bookie, handle and revenue has increased since September due to the start of the football season. With both the NFL and college football well into the season, its normal to see higher numbers this time of the year. Gross gaming revenue from online sports betting in the state is at $33.9 million. The numbers seem consistent throughout the month, with operators in the state seeing around $300 million in wagers each week.
If we look at the total handle New York sportsbooks have seen, we are looking at around $8 billion from April to October. Revenue for the same period is at $750 million. And this is great news for the state, as the tax the state collects from online sportsbooks are 51% of revenue. Even with the steep tax rate, sportsbooks still take in a lot of revenue given the sheer number of sports betting activity in New York.
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