it all depends on how far away you want to see bullet holes and how much you are willing to spend.
Like....life in general mostly....
My gun club has only a 200 yard rifle range and I have no problem seeing .30 cal. holes at 200 yards and .22 cal. holes at 100 yards using my Bushnell Spacemaster 15-45x60. (Just like a rifle scope...magnififcation adjustable through 15-45 times and a 60mm objective lens.)
You can spend thousands, literally, on a spotting scope and I have looked through a few of those and believe me...they are a whole different breed.
But for regular folks back on earth like us a Bushnell or Burris does the job and more just fine.
My Bushnell has for some reason doubled in price but I use Burris rifle scopes and I bet this Burris spotting scope would fill your needs just fine-