In the latest bookie industry news, New York sportsbooks are doing well again, seeing a good hold according to the latest report from the state regulator. In fact, sportsbooks in New York have, for the past 11 weeks, seen a weekly betting handle of $400 million and more.
And the week that ends on Christmas, December 25, actually has us see 17% less wagers than the previous week. But, revenue is still up, hitting more than $40 million in the second straight week. Bookie PPH sportsbooks want to see the trifecta: a good handle, hold, and revenue. But most bookies will certainly be happy with a good revenue for their sportsbooks.
New York Sportsbooks and the Pre Holiday Rush
The hold percentage is 10.2% , which is 2 points higher than the previous week, gives us a good revenue line of $42.5 million over then $416 million handle. As a bookie, we want to look at what causes the movement in trends in betting. Your sportsbook pay per head solution can give you detailed data on your sportsbook’s performance.
For sportsbooks in New York, the higher hold percentage could be because in games during Week 16 in the NFL, ten underdog teams covered the spread. In addition, college football games during the week also had roster changes that made betting quite challenging.
The total handle for the week is 15.7% higher than the same week last year, and revenue is also up by around 12.7% for the same period. This indicates a healthy level of growth in the sports betting industry. It will be very interesting to see how the total numbers in sports betting will be for the whole 2023. As one of the best performing sports betting markets in the country, many in the industry are looking forward to seeing how the market performed in its second year.