Sportsbooks in New York Reach New Weekly Revenue Record

Sportsbooks in New York Reach New Weekly Revenue Record

Sportsbooks in New York Reach New Weekly Revenue RecordWhen it comes to online gambling, it is important to know the latest global gambling statistics. This helps you understand the market behavior like gambling trends, preferred markets, popular gambling products and more. It will also help you compare your own sports betting operation with similar markets to see if your own sportsbook’s numbers are aligned with the trends in gambling and sports betting. And when we talk of sports betting numbers in the US, none outshines New York. In fact, sportsbooks in New York have reached a new weekly betting revenue record.

The numbers are out from the New York Gaming Commission, and for the week ending May 12, sportsbooks in the state have recorded $532.3 million in wagers, and $70.9 million in gross revenue. The numbers are, quite high, since we are looking at a weekly report here. A half a billion in handle is something we normally see in a monthly report for other US states. But with New York, its just the handle for a week.

Sportsbooks in New York Set New Record

The previous weekly revenue handle record was set back in January at $67.2 million, with DraftKings even setting their own new record revenue mark of $36.5 million. If you are running your very own online sportsbook, make sure to use a reliable sportsbook pay per head software so you can easily generate data to see how your sportsbook business is performing. For New York, here are their numbers in 2024 so far. But note that the Fiscal Year for New York starts in April, so betting reports will reflect those year-to-date numbers. But to give you a visual of the market, here are the handle and revenue:

Month Online Betting Handle Online Betting GGR
January 2024 $1.995 billion $211.5 million
February 2024 $1.773 billion $131.4 million
March 2024 $1.849 billion $151.7 million
April 2024 $1.964 billion $183.8 million

 

For instance, last week was the first time that we saw the weekly handle hit more than half a billion since the week ending March 24. It is also 10% higher from the previous week.

 

Understanding the Boost in Revenue

Sportsbooks in New York Reach New Weekly Revenue RecordThe handle itself increased mostly due to residents betting on local teams. First, you have the New York Knicks, who are deep in the playoffs with a series against the Indiana Pacers. Then, you also have the New York Rangers, who are also in the playoffs and currently No. 1 in the Metropolitan Division.

Revenue climbed as much as 207% from the previous week. A lot of experts are looking at the Knicks for this, as they have failed to cover the spread in two of the first four games against the Pacers. The hold for the week was a very high 13.5%, almost 9 points higher than the previous week. You too can look at the performance of your sports betting business and see what drives your revenue to increase or drop at a daily, weekly, and monthly basis. Using a pay per head software is the easiest way to open a sportsbook, and it also has the tools to help you get your sportsbook’s data automatically.

 

Want to Be a Bookie Easily? Get All the Tools You Need with Price Per Player Here!

Bookie Pay Per Head Service