When you own a sports betting business, the trends that happen in your betting market is important for you to track. For one, it will help you identify if your sportsbook’s activity is consistent with that of the market, or if there is something else affecting your bookie operation. Second, it also helps you prepare for either a slower period, or a busy one. In US sports betting, the trend seems to be going upwards now that we are seeing the sports betting handle in New York start to climb up again.
According to the latest report from the New York Gaming Commission (NYGC), the handle for the week that ends August 20 has sportsbooks take in $233.7 million. This is 4.5% higher from the previous week. The latest handle now gives the state’s sportsbook a five-week streak of handles upward of $200 million. Using your online bookie software, you can also generate reports to see the daily and weekly handle of your sportsbook, along with other information like the hold percentage and, of course, revenue.
Sports Betting Handle in New York Shows Shift in Trends
Your revenue is, of course, the biggest indicator of the success of your sportsbook. You can do compute for this manually, but your sportsbook pay per head software can accurately identify your revenue from betting. For sportsbooks in New York, for instance, the revenue for the week is at $21.6 million. The hold percentage, however, dips ever so slightly from 9.5% to 9.2% week-over-week.
In addition, the weekly handle for the same period is up by 16% compared to last week. What operators need to keep an eye out on is the revenue, which is 12% lower year-on-year covering the same period. However, the hold is lower than 10%, so it is not that surprising to see a dip in revenue.
Historically, the handle starts to increase in August, as the industry is warming up with football betting. The preseason is ongoing, and the wagering on the regular season will be slowly increasing as we move into September. So, go back to your bookie software and start preparing for football promos as it can help increase the betting activity in your sportsbook.