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In the latest news from our Sportsbook Pay Per Head Blog, New York sportsbooks are enjoying a very busy start of the year with a $490.7 million weekly handle, covering the week ending January 21. Yes, you read that right, almost half a billion wagers were placed in just a week in New York.
What is amazing is that despite having fewer NFL games since we are in the playoffs, the handle still manages to increase by 10.1% from the previous week. It’s the highest we have seen since Thanksgiving, and it also marks the 15th straight week of seeing a weekly handle above the $400 million mark.
This is why when it comes to the sportsbook pay per head industry, all eyes are in New York. As the top sports betting market in the country, keeping track of their data, such as betting trends, helps bookies with their own sportsbook businesses.
New York Sportsbooks See New Heights in Revenue
However, the hold did drop for the week. If you look at the NFL games during that week, and look at the odds, you will likely see why the hold percentage drops from 15.1% to 9.7%. Those who were favorites during that week were 2-2 ATS. In addition, the Kansas City Chiefs won as an underdog as well, so there were a lot of payouts to players. You can also track your sportsbook’s hold and revenue with your sports betting platform.
Even with the dip in the hold, revenue still maintains a respectable amount. In fact, revenue for sportsbooks in the state exceed $40 million. This is the fifth time they have done this over the last seven weeks.
Given how things are going, as the popular sports leagues move closer to the postseason, betting is still very much in demand. As a bookie, it will be easier to manage your sportsbooks. While the demand and the activity increases, you still are able to manage it better since the lines are condensed into fewer games. As we move closer to the Championship, more and more wagers will be coming in, especially when we get to Super Bowl Weekend, as well as other events like the NBA Finals, and March Madness.
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