Aside from finding the best sportsbook software for your budding bookie business when you learn how to be an online bookie, you also need to keep track of the various betting markets in the country. It is the best indicator you will have for betting trends, which will help guide you in managing your sportsbook. Let us take a look at the latest report as Virginia sportsbooks see an increase in betting activity in August.
The increase in betting handle for Virginia is consistent with other neighboring betting markets. Thus, if you cross-check with the betting events offered though your pay per head sportsbook service, you will see that it coincides with the increase in sports events- namely with football. Both the NFL and college football start getting a lot of action in sportsbooks in preparation for their launch in September. Preseason games are also happening in August, which also gets attention from bettors.
Virginia Sportsbooks and Sports Betting Numbers
The total monthly betting handle for sportsbooks in the states are at $319 million, which is 7% higher than that of July’s $293.6 million. In addition, the year-on-year handle also gives us a 12% increase in betting. When you look for gambling solutions for gambling operators, make sure that the software they provide you will allow you to track your numbers as well. Being able to generate the handle and revenue is important for tracking trends, as well as your profit margin as a sportsbook and online casino owner.
99% of all of the wagers collected in August come from online sportsbooks. This is $315.6 million of the wagers, while $3.3 million worth of wagers come from brick-and-mortar sportsbooks. But to be fair, casinos in Virginia have only been running for a few months, so the numbers are still on the conservative side.
However, online betting continues to dominate the market across the country. Online sportsbooks are the preferred option for many primarily due to the convenience and accessibility of online betting. And with football season gaining traction, we can expect more wagers to come in, and for sportsbooks in Virginia to continue to record handles upward of the $300-million-mark.
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