New York Sportsbooks Collect $457 Million in Weekly Handle

If there is anything that will motivate you to grab your software sportsbook service and create a sportsbook, it would be the sports betting report from New York. The state’s sports betting market has boomed since online sports betting has legalized and is now one of the largest betting markets in the country. Their handle is so big, that what sportsbooks see in a week is worth the monthly handle of other betting markets. It is not uncommon so see New York sportsbooks see around half a billion in handle during busy months, like in the first week of April.

If you keep track of sports news headlines, then you know that the March sports calendar is already not as busy as previous months. Football is on a break, college basketball is about to end, and baseball is only just starting. Even so, in the week ending April 7, sportsbooks take in a total of $456.97 in bets, which is 2.1% higher than that of the previous week.

New York Sportsbooks Numbers

Aside from the handle increasing, revenue also rises by a meager 0.5% to hit $42.08 million. This is from a hold of 9%, which is slightly lower than March’s 9.2%. Again, that 0.5% increase seems minimal, but if you compare the numbers to that of other states, New York sportsbooks are earning what other sportsbooks from other states earn in a month.

Annual growth is still on the upward trend, with the handle increasing by 33.1% from the same period last year. Revenue also increase by 250% year-on-year. The main drivers of betting activity are the Men’s final four games, as well as a record-setting wagering on women’s sports in the NCAA tournament. If you are wondering, college basketball betting in recent weeks are four times higher than that of Super Bowl betting. So if you want to earn big with sports betting, go check out this sports betting software and get into the bookie business.

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