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Handle
sports bettingThe total amount of money wagered on an event or at a sportsbook over a given period.
Key Takeaways
- 1Handle is the total money wagered
- 2It's different from the sportsbook's revenue
- 3Revenue = Handle × Hold percentage
What is Handle?
Handle refers to the total amount of money wagered. It can describe the total bets on a single event, at a single sportsbook, or across an entire state during a given period.
Handle vs. Revenue
- Handle = total money wagered
- Revenue (or hold) = the amount the sportsbook keeps after paying winners
- Hold percentage = Revenue / Handle
Example
- A sportsbook takes $10 million in bets on Sunday NFL games (handle)
- After paying winners, they keep $700,000 (revenue)
- Hold percentage: 7%
US Sports Betting Handle
The US legal sports betting market has grown rapidly:
- 2020: ~$21 billion handle
- 2023: ~$120 billion handle
- Super Bowl handle alone exceeds $1 billion annually
Why Handle Matters
Handle data helps bettors understand market efficiency. Higher handle generally means more efficient lines because more sharp money is involved.