There are a lot of newsworthy events in the sports betting industry, like the latest in fantasy sports in Florida to Alabama sports betting bills gaining approval. Another update worth talking about are Iowa sportsbooks, who are seeing a lower handle, hold percentage, and revenue this January 2024.

This is why when you open an online sportsbook, it is recommended to use a good bookie software that can offer more than sports betting. If you learn how to open an online casino and do it alongside your sportsbook, then you can easily supplement any decrease in revenue from sports betting from revenue in your online casino.

This is especially true now that football season is over, and there are fewer sports events in the calendar in the months to come. Take a look at Iowa’s numbers, for instance. Even as one of the biggest betting markets in the country, it is still quite hard for Iowa sportsbooks to sustain the revenue and handle they have seen over the past few months.

Iowa Sportsbooks in Numbers

According to the report from the Iowa Gaming and Racing Commission, sportsbooks in the state saw $259.4 million in bets this January. This is lower than December’s $282.7 million. Even more, the hold percentage is 8.5%, one of the lowest seen in the last few months. This gives bookies a $22 million revenue for January.

As to where the wagers come from, online sports betting is the undisputed platform that bettors use. It is so popular that in Iowa, only 8% of the total handle came from retail sportsbooks. There are around 17 sportsbooks that people can bet on, so variety is not an issue for the state. Accessibility is, however, a huge advantage in the sports betting industry. Given Iowa’s geography and popular density, it is not surprising at all.

And if you want to earn well by using a well-equipped sportsbook software, check out this SBPPH.com review. This review can hopefully help you find the best bookie software to help you earn a stable and successful revenue throughout the year.