The last few months have been a roller coaster ride for sportsbooks with licenses to operate in states with legal bets.
Some months have had record-breaking betting activity, while in other months, the betting activity declined abysmally.
Iowa and the Month of April
The Iowa Racing and Gaming Commission released their report on the state’s April sports betting figures and showed a considerable drop.
Until now, Iowa was one of the states that had registered constant gambling activity every month.
But apparently, the state authorities were prepared for this drop in gambling activity: Brian Ohorilko, the administrator of the state Racing and Gaming Commission, said, “We did experience the expected decline in wagering for April. This will likely be the case throughout the summer. We were interested to see where the handle numbers would settle now that the more popular wagering events were complete.”
The Numbers
April has been the worst month in betting activity for Iowa, since legal sports betting began in the state in August 2019.
The state handled $ 118.36 million in April. Representing a drop of 26.7% compared to the record setting of $ 161.44 million in March.
A cold summer
As Brian Ohorilko mentioned, the betting industry looks like it will cool off in the summer as major sporting events like SuperBowl and March Madness are over.
But this is a problem that only affects licensed operators. Since the license requires them to only offer odds for a handful of markets such as the NFL and the NBA.
Pay Per Head Bookies doesn’t have to worry about facing a summer with little gambling activity. On the contrary, this summer can be one of the most lucrative times for two reasons.
World events
The first reason is that big sporting events will take place this summer. In Europe, the Euro cup will be held, and in Japan, the Olympic Games.
Both events have a large fan base. And many of them will want to bet to show their support for their favorite athletes and teams.
Hungry Customers
The second reason is that due to the limited catalogs of licensed operators. The gamblers will look for new operators to bet during the summer.
This means that bookies have an excellent opportunity to capture a new market and expand their betting business.
