New York Sportsbooks See Second-Highest Weekly Handle Record

In the latest gambling industry news, we yet again take a look at one of the largest sports betting markets in the country- New York. According to the latest report from the New York Gaming Commission, New York sportsbooks took in $529.5 million in the week ending November 19. Yes, you read that right. Half a billion worth of wagers were made in the state in just a week.

Despite the steep amount, this is only the second-highest weekly betting handle that the state has seen since online wagering went live. The all-time highest weekly handle is around $43 million less than that of the week ending January 23, 2022. These are amounts that we can only dream of seeing in our sportsbooks- but with the help of a sportsbook pay per head service, you can definitely earn a decent profit margin easily.

New York Sportsbooks Continue to See Growth in Sports Betting Industry

One of the indicators of a growing market is by comparing them with the previous period, and the same period of previous years. This gives us a benchmark to compare how a market continues to grow in both the short and long term. For this week, we have a 54% increase from the same week of 2022. It is also the sixth straight week that the state has seen a weekly betting handle exceeding the $400 million mark.

The trend is not limited to the New York sports betting market. Other states throughout the country report similar trends. Betting markets across the world also see better numbers in both gaming and sports betting. This is why the premier Sports Betting Solution in Asia continues to be in high demand- even from the other side of the globe.

Despite the huge boost in betting handle, revenue drops by 7.3% from the previous week as the hold percentage drops from 9.7% to 7.7%. This means that bettors won more this week, so sportsbooks released more payouts and winnings to their players. One such culprit could be the New York Giants winning and covering as the underdog in their NFL game against the Washington Commanders. The Buffalo Bills and the New York Jets facing each other is also another noteworthy local game for bettors to win on.

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