One of the most important aspects of efficient sportsbook management is looking at the stats of your sportsbook. This involves creating a report where you can see your betting handle, your revenue, the hold percentage, and other important information, like where people are betting on. This will help you identify the growth of your sportsbook, and if it is consistent with other betting markets. For instance, one look at the numbers of New York sportsbooks and we know that we are now entering a very busy- yet profitable season for sports betting.
According to the latest numbers released by the state, sportsbooks in New York are now holding a new record in weekly betting handle at $527.4 million for the week ending October 29. If you look at your sportsbook pay per head software, you will notice that among the lines, you have quite a lot of popular sports tournaments ongoing.
With the MLB, NBA, NFL and NHL running in October, you are bound to see a record number of wagers. Add in college sports betting, and you have a very busy sportsbook you can earn a lot from.
New York Sportsbooks See Record Bets, But Lower Revenue
When it comes to sports betting though, the handle does not guarantee profit. After all, as a bookie, you will have a lot of expenses, plus the payouts to winners. If you look at these bookie pay per head reviews, you can find an affordable provider that will help cut down your costs. But if a lot of your players are winning their bets, then your sportsbook earns less.
This is exactly the case of sportsbooks in New York, as the hold is only at 5.5%. This means that revenue is only at $28.8 million, 28% lower than that of the previous week. This ends the previous streak of sportsbooks earning at least $30 million per week for the last three weeks. But even with the decline in revenue, many in the industry are optimistic that with a double-digit return in the hold in the next few weeks, sportsbooks will also be reporting a jump in revenue as well.