New York Sportsbook Numbers Down in April

If you are staying updated on sports betting with iGambling now and the likes of Bwager, then you know by now how much of a splash the New York sportsbook market made this year. When the state finally allowed online sports betting, residents scrambled to visit their favorite sportsbooks, with the state earning billions in sports betting handle in a month’s time.

Now that you are learning how to become a bookie, its very important that you stay knowledgeable about the sports betting industry, especially with one such as New York, which is one of the biggest markets in the country today. Let’s look at the state’s numbers for April. The total monthly betting handle for the state is at $1.39 billion for mobile wagers. This is lower than March’s $1.63 billion handle. Meanwhile, the gross gaming revenue (GGR) for the state is at $104.1 million, again lower than March, whose GGR was $104.1 back in March.

New York Sportsbook Numbers

Despite the dip in April’s numbers, New York’s betting market is still worth paying attention to. In just 100 days since legalizing online sports betting, the state was able to generate $5.3 billion in wagers. The number is something that any bookie using a good pay per head software dreams of seeing. The staggering number is not just good for the sports betting industry, but also allows the state to collect taxes for state programs.

Remember that unlike other states, New York has a pretty steep tax rate of 51% on revenue. And if the state will consider adding more igaming products such as online casino games, then the state can stand to earn even more. Given how large the betting market in the state is, sports betting operators have been competing to get a bigger share of the market. Offering bonuses and promotions have been prevalent to entice players to join, as well as encourage customer retention.

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