In the latest news talked about by the pay per head industry, you have the latest update on the weekly New York sports betting handle increase. If you compare the state’s sportsbooks to that other states, they are seeing less wagering activity. But New York, the largest betting market in the country, is seeing an upward trend in week-on-week betting.
According to the latest numbers reported by the New York Gaming Commission, the total handle for the week ending July 9 gives us $238 million in wagers. This is 11.7% higher than the previous week. It is also 25% higher than the same week last year. So not only are we seeing bettors be so active compared with other states, the market is also growing as seen in year-on-year data.
This is something that many people check with in a bookie pay per head blog, or even in forums. The numbers are still increasing each year, and it does not seem to slow down, so we are far from seeing sports betting peak in the state. Definitely great news for those in the bookie business.
Weekly New York Sports Betting Handle Increases, But Revenue Drops
Other states report lower handles but higher revenues. But New York has something different- their handle is higher, but revenue is lower by 12% week-on-week, as well as 15.5% year-on-year at 422.8 million. The hold is lower at 9.6%
The decline in revenue points to a lower hold, meaning, bettors won more than sportsbooks in this period. But if you look at the big picture, which is what you need to do with your own bookie pay per head software, you will see that the numbers are still good.
It is the sixth straight week that state sportsbooks see revenue rise above $20 million. That gives you over $120 million in revenue for a month and a half alone. Other markets would report a number this high for annual revenues. This puts things into perspective as we see that even with minor dips in revenue, the New York sports betting market is still performing well, and still above expectations.
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