As we have widely reported in this blog, the states with legal gambling in their territory reported a dip in gambling activity during February.
Jessica Welman, an analyst for Play Colorado, commented on the dip in gambling activity and came to fascinating conclusions.
Welman said: “February is a reminder that with the seasonality of sports betting, growth is never assured even in a market like Colorado,” and added, “In nearly every legal betting market, a pullback from January was expected mainly because there is nowhere near the NFL inventory of games to bet on, even with the Super Bowl. Colorado is a unique market in many ways, but ultimately it is still subject to the same sports betting dynamics as any other state. ”
For Colorado, the drop in betting activity was $60 million, 18% less than that registered in January.
This trend has been present throughout the US, and as Welman mentions, the betting business cannot depend on just one sport.
Moreover, this also shows how vital weekends are for sports betting since many analysts agree that due to the fact that February has one weekend less, this contributed to the slump of inactivity.
Lessons for the Bookies
Bookies can learn a lot from this and prepare their betting businesses not to be affected by this type of situation.
A vast catalog of betting options
The first lesson that bookies can learn is that they must have a vast catalog of bets.
Operators in states like Colorado, Nevada, and legal bets, are limited to offering betting options only for the major leagues.
When a league ends, the betting activity suffers a drop like the one we have seen.
To avoid this, bookmakers must ensure that they have options and betting lines for various sports and events worldwide.
Moreover, bookies must offer their bettors these betting lines. Also, it is a good idea to run promotions so that bettors try betting lines of other sports.
Complementary businesses
The second lesson that we can extract from all this is that bookies need complementary businesses to maintain a good flow of income.
For example, a bookie with a race book does not have to worry about the NFL break since horse racing happens almost non-stop throughout the year.
As a result, horse racing guarantees the bookie a constant income every month.
A good Pay Per Head Provider
Finally, to maintain a competitive betting business with a vast betting catalog and complementary businesses like a race book. Bookies need a good Price Per Head provider.
The best Pay Per Head providers on the market gives bookies access to more than 80 leagues and events from around the world.
In conclusion, to not suffer drops in betting activity, bookies need a good Pay Per Head provider.
