Many who are in the sports betting industry have been excitedly waiting for football season to begin. With both the NFL and NCAA football in their respective regular seasons, there are now a lot of betting opportunities. So much so that its during this time of the year when most in the industry would label the period as the beginning of the peak season. And New York sportsbooks are already feeling it, as we are now in Week 2 of the NFL and college football.
According to the latest report on sports betting in New York, the first full week of college football and NFL betting causes a huge jump in weekly betting. The total weekly handle us at $416 million. If you are learning how to open an online sportsbook, then you will know by now that a handle like that is truly amazing, especially since we are talking about south of half a million worth of wagers in just a week.
The revenue for the same period is at $56.6 million. This is the second highest weekly revenue that the state’s sportsbooks have seen since back in 2022. If you want to see your sportsbook’s revenue on a weekly basis, your sportsbook pay per head software can generate the report for you easily.
New York Sportsbooks and the Football Season
Basically, weekly revenue jumped by 582%, or $48.3 million. It is also just a $1 million lower than the all-time high for sportsbooks in the state since earlier this year. The handle is the largest sportsbooks have seen since January 15. But more than that, we have a year-on-year increase in handle by 26% for the same period, and 74% more in revenue.
What does this mean? The numbers tell us that in the short term, football is now increasing activity and revenue in sportsbooks in the state, and will likely be the same with other states. And if we look at more long-term data, we are seeing growth on a yearly basis, indicative of a more successful industry with a larger customer base. If anything, this should spur you on to sign up with a pay per head provider and start your own sportsbook. Because betting will only get busier in the months to come, and you can earn a lot from it.