sports gambling what it means for bookies

For example, some sportsbooks will boast about how much money was bet during the Super Bowl or March Madness. The handle isn’t something readily accessible for every event. It could just be average skill-level bettors with more money to bet are betting on the Lightning. It doesn’t mean pro bettors are betting on the Lightning. Trying to make actionable conclusions from this is tricky. Therefore, for the handle percentage to be higher than the ticket percentage, the average bet amount on the Lightning has to be higher. In the example above, the Lightning has 65% of the handle with only 59% of the tickets. That means 20 $5 bets on the Lightning would be valued the same as one $100 bet on the Hurricanes.Ĭomparing handle percentage and ticket percentage can show where big money is going. Handle percentage is weighted on how much money each bet was placed for.

That means a $5 bet on the Lightning counts the same as a $1,000 bet on the Lightning. Ticket percentage is the raw number of bets. In sports betting coverage and analysis, you may see something like, “The Lightning moneyline bet has 65% of the handle and 59% of the tickets.” In this usage, handle is all of the money bet on that game, and the Lightning’s 65% is how much of that money is on the Lightning side of the bet. Handle is also used as the percentage wagered on each side of a single bet, like a Carolina Hurricanes-Tampa Bay Lightning game.

As a result, the revenue New Jersey sportsbooks made during that same period was over $66 million. That means almost $1 billion was wagered in bets during that month in every sports bet from every sportsbook in New Jersey.

For example, sports betting in New Jersey had more than $996 million in handle in Dec. Handle can be shown as the amount bet over a certain period of time at a sportsbook or in a state or country.

Sports gambling what it means for bookies