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New York Betting Industry Feels Summer Dip in Sports Betting

The sports calendar is a very helpful thing for those in the sports betting industry to know. For one, it tells you what to expect each month in terms of sports events to watch. But when you own and manage your own sportsbook, this becomes more important, because the calendar will also tell you when the busiest, and the low months for sports betting will be. Summer, for instance, is a low or a slow season, since there are less than a handful professional and collegiate sports leagues holding events. Handle and revenue tend to be lower than other months, and not even the New York betting industry, one of the biggest in the country, is immune to it.

Since online sports betting was launched in New York back in January, its sports betting handle and revenue blew up, putting the state in the top spot for sports betting across the country. But just like most betting markets, when there are less sports events to bet on, the handle will tend to drop. And it’s the first month that the state is seeing lower numbers this June. The state has a handle of $1.06 billion, the lowest monthly total handle the state recorded since January.

New York Betting Industry in June

New York Betting Industry Feels Summer Dip in Sports BettingOf course, the use of sports betting solutions will continue to rise – its just that this month, there are fewer events to bet on. The dip in numbers is consistent with market trends each year. But New York’s numbers, despite the decline, still show us something important. That the total sports betting revenue ($302.2 million) that the state has collected year-to-date, is still more than the total sports betting revenue that any other state has collected over recent years. The highest revenue any state collected since launch is $265.6 million for Pennsylvania from November 2018 to May 2022, and New Jersey, generating $237.1 million in revenue since June 2018.

The model of sports betting that New York offers is ideal- offer retail sports betting, and allow online sports betting in the state. It was not until the state offered online wagering that the local industry truly reached the top spot for sports betting in the US. And for those who want to start a sportsbook, being able to offer the latest betting lines through a bookie software is definitely an advantage. Bookies also get player management as well as gambling call center services, casino software, and more.

 

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