Sports betting in Iowa gets a huge boost in sports betting this November, helping the state register more than $2 billion in wagers year-to-date. In case you are new to using your pay per head bookie software, you need to memorize the sports calendar as it can help you identify the trends in your market. For instance, in the US, November is a very busy month, with the NFL, the NBA, and the NHL running. In addition, college basketball and NCAA football are also in season, so there are thousands of betting options a player can choose from each day.
For sportsbooks in Iowa, the $2 billion handle equates to around $172.5 million in revenue for the year so far. Players and bookies are not the only ones earning from sports betting. The state is getting $11.6 million for the year so far from taxes alone. All in all, this is a very good year for the state in terms of sports betting.
Sports Betting in Iowa Sees Betting Boost in November
As a bookie, you can easily use your sportsbook software to also look at your own sportsbook’s performance given specific time frames. This will help you understand the movement in your sportsbook and be able to determine if your sportsbook is performing as it should, or if there is something that needs work on. You can generate reports to look at the handle, revenue and the hold percentage. You can also take a deeper dive to analyze which sports are the most popular, which wager types your players bet on the most, and other similar statistics.
For sportsbooks in Iowa, the handle for the month of November is at $289.7 million. This is the second-highest betting handle that the state has seen. The highest is north of $300 million, recorded in January 2022. However, a lot of bettors were very lucky, winning so much that sportsbooks record a rare 4.9% hold. This brings us to a lower revenue of $14.1 million.
But even if we are seeing lower month-on-month revenue, the increase in handle is still noteworthy. In addition, the revenue for November, albeit lower than October’s, is still 143% higher than November 2022’s $5.8 million. And with over 91.7% of the wagers coming in from online sportsbooks, it is very telling that managing an online sportsbook is the most practical and lucrative way to earn money from sports betting.
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