New York Sports Betting Handle Perks Up in August

In the last few months, gambling news reports all point to an off-peak betting slump over summer. With less professional sports leagues running, and no college sports events, bettors have limited options in sports betting, which brought the handle down. Monthly sports betting reports from each state points to this trend. But New York also looks at weekly numbers, and is heralding an upward trend that other sportsbooks will hopefully have. New York sports betting handle numbers are up in the first week, as reported by the New York State Gaming Commission.

Many bookie PPH software users will be pleased to see that with sports betting gaining traction, it could continue well into the football season and throughout the end of the year. Looking at the numbers from New York Sportsbooks, from the week that ended August 7, the total mobile sports betting handle is $194 million, up from the $177.8 million from the last week of July.

New York Sports Betting Handle and Numbers

Meanwhile, Gross Gaming Revenue (GGR), which is important for those who use sports betting software, is a good metric to see your profit and its growth. The previous week had a $20.9 million, with a 10.8% hold. The last week of July has a GGR of just below $22 million with a 12.4% hold. The GGR can go up as more bettors become more active as in the next few weeks.

This is good news, considering that New York, the largest betting market in the country, has been dealing with the slump since spring. In July, the monthly handle for the state even dipped below $1 billion. For the first week of August, many sports betting experts are looking at the recent Subway Series between the Mets and the Yankees as a main driving force for the increase. In addition, preseason football is also picking up.

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