Your betting software will likely not see as much wagering on a single game that it has with Super Bowl betting. As one of the most popular betting and sports event of the year, experts estimate billions of bets on football’s penultimate game. And if you are looking at the New York handle during the period, you will see just how big of a boost wagers for the game gave sportsbooks.
You can do this yourself in your pay per head bookie software, even on a daily, weekly, and monthly basis. Knowing your betting handle and revenue can help you determine how successful your sportsbook is, and if you need to do anything to improve those numbers.
For New York, the state’s sportsbooks saw $424.3 million in wagers for the week that ends February 12. This gives us a huge 28% boost compared to December’s handle. However, revenue is another topic altogether, as it actually went down for the mentioned week. Revenue was at $12 million, with a hold percentage of 2.8%. For reference, the week before that had a $41.2 million revenue and 12.4% hold percentage.
Super Bowl Betting in New York
Of course, the huge difference between the two weeks was the football calendar. In the week ending February 5, you had no games scheduled, while the Super Bowl was on the week after. And when you become a bookie, you will also learn that a decline in revenue could also mean something else.
For instance, in the case of New York, the decrease in revenue is attributed to more promotions and bonuses offered to players. While this may seem counterproductive, this is actually a great measure to implement because it is long term planning. You can give up a percentage of your revenue as a marketing or advertising cost, and use it to get more players to play, and stay in your sportsbook.
