New York Sportsbooks Rake in $2 Billion in Bets in November
Sportsbooks in New York Set New Record in Sports Betting
Aside from keeping track of sports betting in Georgia, it is also important to take note of the performance of sportsbooks in similar betting markets across the country. It makes it easier to identify and track trends, and it is also easier to determine what causes the changes happening in sports betting in the country. And one of the latest reports features New York sportsbooks, as they yet again record a $2 billion monthly handle for the second month in a row.
The $2.1 million total monthly handle for sportsbooks in New York is the highest ever recorded since online sports betting was legalized. This is not just a new record, but 5% higher than October’s monthly handle. October is usually one of the best months for sports betting in the US, so to see the state’s sportsbooks exceed this handle is quite the feat.
Sportsbooks throughout the country also report a similar jump in handle in November. With the NFL, college football, the NHL, the NBA and college basketball all ongoing, bettors have a lot of options to place wagers on. You can check your Bookie Pay Per Head sportsbook to see which sports are popular among your own players.
New York Sportsbooks in November
With the handle 31% higher than the same period in 2022, we can safely say that New York still has not reached the peak of the potential for sports betting. The handle gives us a gross revenue of $150.9 million, 1.8% higher than that of the same period last year. You can also learn how bookies save money with a pay per head sportsbook to maximize revenue potential. For sportsbooks in New York, the revenue does drop month-over-month by 9%, and its mostly due to the hold dropping from 8.3% in October to 7.2% in November.
Meanwhile, the state also gets to earn from this, collecting $77 million in tax revenue for the month. Sportsbooks in New York seem eager to break records, and many are waiting for what December will bring. So far, gross revenue for the year is north of $1 billion over more than $12 billion handle for the ongoing fiscal year.
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