Michigan is the 15th state to legalize sports betting in the United States. However, it failed to stop the sports betting stocks drop on Friday. More states are legalizing sports wagering, but individual states' moves have little impact on the market.
DraftKings shares went down by 1.61 percent to $52.70. Penn National Gaming was down 0.23 percent at $106.94. Also, MGM Resorts International dropped 0.43 percent to $31.67. Although Wynn Resorts has a higher value at $106.88, its value dropped by 2.09 percent.
Despite the drop in the market values, online sports betting remains a fast-growing industry. According to pay per head sportsbook reports, 90 percent of sports wagers made in New Jersey came from online sources.
Online bookie software experts said that Michigan has a business-friendly tax rate. Also, the state has competitive licensing fees. Thus, many companies want to know how to become a bookie and start a sportsbook in the state.
Colorado voters approved Amendment 77 during the November elections. Thus, Colorado casinos will get higher betting limits. Casinos in Black Hawk, Cripple Creek, and Central City can now have limits above the previous cap of $100.
Also, casinos in the three gambling towns can offer new games. However, the Limited Gaming Control Commission needs to allow the games first. Black Hawk City Council didn't want to waste time and voted to approve unlimited single-bet wagers last December 1. The council also allowed casinos to offer keno, baccarat, and pai gow poker. However, the changes would take effect on May 1 due to the amendment's wordings.
According to pay per head solution reports, the amendment allows Colorado to compete with other states with legal casino gambling. Before the amendment, bet limits were only found in Colorado and South Dakota.
Cripple Creek and Central City also passed measures that would allow new games and life wager limits. However, elected officials and casino managers are downplaying Amendment 77's impact on local communities.
The Oregon sports betting handle for the month of October is $29.45 million. This is 12.5% higher, or $3.3 million higher, than September’s $26.17 million. The numbers for Oregon are quite good, considering that there is only one sportsbook in the state. This is, of course, could also be a disadvantage if there is no competition. After all, if you look at a bookie pay per head comparison, you can see that different sportsbook offer different products and lines.
Despite many per head sportsbook solution options, some states choose to limit betting activity in the state. In Oregon’s case, it’s the actual number of sportsbooks they are limiting. The Scoreboard app is run by the state lottery, and is the only way that people can place sports wagers in the state.
It is indeed possible to contract their bookmaking services out, easily, and affordably. Here is the skinny… Many local bookies have the idea they are doomed to “local”. There couldn’t be a worse place to be stuck in, than this way of thinking.
Why do many bookies believe this? They believe the cost of doing business with a PPH is simply too high and that finding an online presence is complicated and unaffordable.
None of the above is true and in fact, it’s all a giant misnomer. Contracting the services of a pay per head is quick (a day or two to be fully operational), it’s affordable ($7-13 per head), and there are no long term obligations.
Are you trying to get into the sports betting business? Have you been in this industry for some time already and want to get better results? Price per Head is the answer to all your bookmaking needs, and it’s time you start getting what you deserve!
How do you feel about your business? Is there anything you need to improve? Is it just too much sometimes? If you feel like this it is because you’re right. Sports betting is a huge machine that never sleeps, you must be aware at all times, bring your A-game every single day, make sure your lines are sharp, your platform is up and running, and your players are happy.
It’s not easy, as there are games and events to offer each and every day, and at all times of the day. So, how do you do it?
If you’re already in the sports betting business, you know how important it is to cover all the basics, before even trying to move forward. Good basics show your players that you respect them, that you care for their money and safety, their privacy and for them to have the best overall gambling experience.
What do these basics include?
Well, other than solid lines and good payment solutions, right now technology is one big and important part of this industry, so, a good, reliable sports bookie software is also part of the basics, and we can assure you that having it and being able to offer it will make a big difference and create a positive impact on your day to day operation and of course, on your profit.