Betting Handle

The betting handle refers to the total dollar amount of all wagers placed on a specific event, market, or across an entire sportsbook over a defined period. It is one of the most fundamental metrics in the sports betting industry, used by operators, regulators, and analysts to measure market activity and gauge the popularity of events. The handle encompasses every bet regardless of outcome — it counts the money wagered, not the money won or lost.

It is important to distinguish handle from revenue. The handle is the gross amount wagered, while the sportsbook’s revenue (often called the “hold” or “win”) is the portion of the handle that the book retains after paying out winning bets. A sportsbook might report a $10 million handle on a football weekend but only hold $500,000 after settling all wagers, representing a 5% hold percentage.

Example

Suppose a state’s regulated sportsbooks report their monthly figures. During October, the combined handle across all operators totals $800 million. Of that amount, sportsbooks paid out $755 million in winnings to bettors and retained $45 million. The handle is $800 million, the gross revenue is $45 million, and the hold percentage is approximately 5.6%. If a single event like the Super Bowl generates $150 million in handle at one sportsbook, that figure represents every dollar placed on every available market for that game — moneylines, spreads, totals, props, and futures combined.

Key Points

• Measures total activity: The handle captures every dollar wagered, making it the broadest measure of betting volume on an event or within a market.
• Not the same as profit: A high handle does not guarantee high revenue for the sportsbook. The hold percentage determines how much of the handle the operator retains.
• Reported by regulators: State gaming commissions typically publish monthly handle figures, which serve as a barometer for the health and growth of legal sports betting markets.
• Influenced by major events: Handles spike dramatically around high-profile events such as the Super Bowl, March Madness, and championship boxing matches due to increased public interest and wagering activity.
• Includes all bet types: The handle is an aggregate figure that accounts for straight bets, parlays, props, futures, and every other wager type placed during the reporting period.