New York Sportsbooks Set New Betting Revenue in March

If you are learning how to be a bookie, its important to know as much as the sports betting industry that you can. Doing so is helpful in guiding you on what direction to take and what technology to use. But more than that, it will also give you an idea on the trends and market behavior, allowing you more insight on how you can and should run your sportsbook. And what better example than New York sportsbooks? They, after all, comprise the largest betting market in the country today.

And according to the latest data, the state’s sportsbooks have set another record: sports betting revenue for the month of March. Of course, if you have been reading sports betting tutorials and know the sports calendar, you know that we have March Madness to thank.

New York Sportsbooks: The Numbers Say It All

According to the report released by the New York State Gaming Commission, the state saw around $1.79 billion in online sports betting in March. This is higher than February’s $1.47 billion. And if we look at March 2022’s numbers, which was $1.64 billion, last month was still higher. If you are impressed, then think about this: This is not the highest handle the state’s sportsbooks have seen. In fact, March’s handle falls short of the record set just this January.

So, even if the handle was not record-breaking, there is something that those who use the best sportsbook pay per head software would appreciate more: revenue. New York sportsbooks take in $162.8 million in gross gaming revenue for the month of March. This is significantly higher than February’s $108.3 million, as well as March 2022’s $114.3 million. This is the highest revenue set since online wagering started back in January 2022. This gives us 9.1% hold for operators, higher than the 7.4% win rate in the previous month.

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