In the latest gambling industry news here at MyBettingDirectory.com, we are giving you the latest report on the largest sports betting market in the US, New York. The weekend of Father’s Day was not only a treat for fathers everywhere. Sports fans also enjoyed the weekend with a busy sports calendar. We saw the NBA Finals, the Stanley Cup Final, and the US Open for golf happen in the week ending June 16. And all these events drove up the sports betting activity in New York sportsbooks.
According to the latest report from the New York Gaming Commission, sportsbooks in the state took in $362.8 million. This is a 5% increase in betting activity week-on-week. Keep in mind that New York logs weekly, as well as monthly numbers in their sports betting reports.
Sports Betting Activity In New York Increases
With the week as busy as it was, sportsbooks naturally took in a lot of wagers. In addition, futures bets were also cashed out with the end of the NHL and the NBA. But with your bookie software, keeping track of your players payouts is very easy. And if you use social media as a communication tool for your sportsbook, its even easier to get in touch with them. It means, its also easier for you to advertise your sportsbook and promote certain events that people can bet on.
For New York’s sportsbooks, this is the highest weekly handle that they have seen this June. And it is a particularly good showing, since June is usually the start of a slower season with less sports events on the calendar.
Revenue for Sports Betting is Down This Week
However, the increase in handle did not translate to an increase in revenue. The hold fell below double digits to 8.9%, which means a lower revenue by around 8.4% week-on-week. But still, $32.2 million in revenue for a single week is not bad by any means.
Your sportsbook can also track the handle, hold, and revenue with a good bookie software. Check these reviews of gambling software to find one that suits your needs. Meanwhile, sportsbooks are hoping to at least maintain the numbers during summer. While numbers traditionally go down, the Olympics will be starting in a few weeks. Hopefully, a lot of action will help boost the number of wagering activity across the country. And hopefully, the hold will reach the double digits so sportsbooks can take a higher proportion of revenue from Olympics betting.
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