In the latest gambling news, we are looking at one of the largest betting markets in the US to see how their weekly numbers are doing. According to the latest report from the New York Gaming Commission, the total sports betting handle of New York sportsbooks are better than that of the previous week. The handle is 34% higher, reaching $217.8 million for the week that ends July 23, 2023.
Will the higher handle mean a turn for the better for the market? The local betting industry is not hurting at all, don’t get us wrong. But the previous week is the lowest sports betting week that the state has seen recently. So the 24.5% week-over-week jump is at least inspiring for those learning how to open a sportsbook.
Because despite the recent dip in handle, more bettors are playing this week, giving sportsbooks the chance to gain better numbers for the month. And the numbers are even better compared to last year. The handle is 45.5% higher than the same week last year.
New York Sportsbooks See Jump in Revenue as Well
If you use the report feature of your pay per head sportsbook software, you will also be able to track your weekly handle and revenue, which is important for you to do. Knowing how your sportsbook performs will not only tell you if you are earning money, but it will also help guide you in knowing how you can further improve your sportsbook business.
If the software you use does not give you this feature, then check these sports betting software reviews to find one that can provide you with this. For sportsbooks in New York, for instance, we are able to see that their earnings are better, too.
The revenue is 45.7% higher at $25.3 million from the week prior. In addition, revenue is 105% higher than the same period last year. The hold percentage is also higher from the previous week, increasing from 10.7% to 11.6%. The market is still far from its peak, as the handle is the second-lowest seen this year. But, if the upward movement continues in the next few weeks, then all will be more than good for sportsbooks in New York.
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