Respectfully, I'd disagree with using a pair of binoculars to see the holes. Maybe in ideal light conditions and if you choose your target for visibility -- a shoot-n-c or something, e.g. I limped along with 8x, 10x, and then 12x binoculars for a long time before breaking down and buying a spotting scope. What convinced me was looking through a bunch of spotting scopes during competition and seeing what a difference it makes.
The one I have is a 15-45x60, which makes it more than sufficient to see holes at 100yds (including the 22s), and keeps the image bright. I don't have a rifle scope lower than 9x, and I find them unusable for looking at a target (for scoring; for shooting is fine!).
Also, I can't emphasize enough the importance of a good tripod. If you have a sucky spotting scope on an awesome tripod, you'll do better than the other way around. If your spotting scope comes with a tripod (and costs less than $500 total), throw the tripod away. I bought a Vortex tripod with a ball head, and will never go back.
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