Massachusetts Sportsbooks See Second Best Betting Handle in January

 

If you want to start a bookie business, you need to pay attention to the trends and performance of betting markets near you. This will help you identify busy months for sports betting, so you can prepare for anything. For instance, January is a pretty busy month for sports betting, but football season is slowing down. It means that the betting numbers can go either way. For Massachusetts sportsbooks, it was a good month as operators saw the second-best handle in history.

According to the latest report from the Massachusetts Gaming Commission, the total sports betting handle is at $651.7 million. $638 million of that handle came from online sportsbooks. This is the second-highest handle that online sportsbook operators have seen. This is something to remember for you when you become a bookie. Using an online bookie software for your sportsbook is very practical since the market predominantly bets online. 

 

Massachusetts Sportsbooks Do Well in Start of 2024

You can also use your sportsbook pay per head software to track other important data on your sportsbook’s performance. For instance, in Massachusetts, sportsbooks have a $651.7 million handle, with an 11.16% hold percentage. This means sportsbooks earn $72.7 million in that month. The jump in the hold from 9.4% in December is a huge factor in the increase in revenue month-on-month.

Football and basketball remain to be the popular options for bettors, and hockey is also quite popular. As the month leads up to the Super Bowl, having less games can still drive up wagers, especially in the postseason. Meanwhile, basketball has the NBA, which is slowly progressing into the playoffs, and college basketball, where we are starting to see the seeding for March Madness. February could be an even busier month for sportsbooks, so make sure you are ready with your bookie software.

 

Virginia Adds More Sportsbooks in Growing Betting Market

 

Given the popularity of sports betting in the US, it is no wonder that states continue to improve their regulations, expand markets by adding more sportsbooks, and more. Virginia is one such state that is open to growing their already successful betting market.

And with how popular online sports betting is, a lot of people have been looking for the best bookie software for sportsbooks to use to join the industry. Virginia is even issuing 16 online sports betting licenses to operators, which many expect to provide a boost in revenue for the state.

Those who are interested to also become an online bookie and run your own sportsbook, these sportsbook pay per head reviews can be very helpful. Here, you can reviews from industry experts, suggesting which software providers to try, depending on your specifications and budget.

Virginia Adds More Sportsbooks

Virginia is one of the most promising states for sports betting. In August, despite being one of the leaner months in the industry, sportsbooks in the state record a $319 million sports betting handle. This was even higher than July’2 $293.6 million. The handle in August also represents a year-on-year increase in betting by around 12% from August 2022.

And just how popular is online betting in the state? Out of the total handle, $315.6 million come from online sportsbooks, and only $3.3 million come from retail betting. Operators in the state generated a combined $27.9 million in adjusted revenue. All the more reason to get started with a good bookie pay per head service and create your own sportsbook and join the fray. 

 

 

  

Kansas Sports Betting Activity Sees Rise in Revenue for July

Sportsbooks in Kansas started the new fiscal year on a positive note, rebounding from the previous month's performance, starting what could be the upward trend in betting leading up to football season. Kansas sports betting activity may have a lower handle, but revenue for sportsbooks have increased.

When becoming a bookie, revenue is always the bottom line in terms of the data you can find in your sportsbook. Naturally, wanting a higher handle is always better, but if your hold is low, then revenue will not be as good as you would want it to be.

According to the Kansas Lottery, the adjusted revenue for July reached $6.8 million, marking a significant 66% increase compared to the previous month. This growth was driven by a total betting handle of $79.7 million from both online and retail sportsbooks in the state. 

 

 

 

Kansas Sports Betting Activity Continues to Improve

The rise in revenue was attributed to a reduction in promotional deductions, decreasing from $3.2 million in June to $1.8 million in July. Consequently, the state received a higher tax payment of $683,176 in July, up from the $409,425 recorded in the previous month.

Although the betting handle for July in the Sunflower State dipped by 18.8% on a month-on-month basis, the hold saves sportsbooks and gives us an increase in revenue. Sportsbooks report a 12.1% hold on the $9.6 million Gross Gaming Revenue (GGR). The GGR also increases by 18% from the previous month. As a bookie, you can easily add more revenue if you get players to also play online casino games through your bookie software.

If you look at the numbers for Kansas, online sports betting remains the more popular option, taking 97% of the market at $77.4 million. Historically, numbers will start to improve as we get closer to football season. August will still have the same betting options, with the addition of international basketball as well as the NFL preseason. Your bookie pay per head software will offer all the events available, and will hopefully yield a better handle and revenue for the sports betting market this August.

 

Alcaraz Faces Tough Match Against David Goffin

 

Get the latest eSports news and check out sportsbooks to bet on in this 888sport sportsbook review. Meanwhile in tennis, in his first match since battling to the Wimbledon title, Carlos Alcaraz was made to work hard by David Goffin in the Hopman Cup in Nice on Friday. In the men's singles, top-ranked Alcaraz had to fight to overcome the 111th ranked Belgian 4-6, 6-4, 10/8.

Goffin broke the 20-year-old Spaniard twice to take the first set and led 3-1 in the second before Alcaraz fought back to take the match to a super tiebreak 10/8 after falling 4-0 behind.After Elise Mertens defeated Rebeka Masarova in the first women's singles match by scores of 7-6 (7/3), 2-6, and 10/5, Spain's victory brought the match to a tie.

Mertens and Goffin defeated Masarova and Alcaraz 6-3, 6-1 in the decisive doubles match to give the Belgian team the championship in just over an hour.

The Hopman Cup is a mixed tournament with two-player teams from six different countries divided into two pools of three.

Each nation competes against the other two groups in its pool. Women's singles, men's singles, and mixed doubles are played first in each tie. In their debut match, Donna Vekic and Borna Coric of Croatia defeated Belgium. On Saturday, Spain will play Croatia with a chance to go to the championship game still alive.