Iowa casinos complete first month of sports betting
Casinos in Iowa managed to achieve good results in their first full month of sports betting activity, where more than US$40 million was wagered.
US.- The sports betting market in Iowa kicked off on August 15 and achieved great results in just 15 days. September was the first full month of operations, and casinos in the state continued with the positive trend as they received more bets than expected.
The new season of the National Football League (NFL) started in the first week of September, and all US states with legalised sports betting expected that event to boost their sports betting operations. Iowa was part of that wave, as Iowa casinos reported approximately US$40 million in bets in September.
State regulators revealed that more than half of the US$40 million were online bets through the state’s mobile betting app, local media reported. These numbers are higher than expected, but they also feature the first month of NFL activity.
Grand Falls in Larchwood generated US$1.1 million in revenue from sports bets. Hard Rock Sioux City kicked off its sports betting operations on September 22 and managed to collect US$300k in wagers.
August results
The report from August indicates that 13 casinos registered more than US$8.5 million in bets in just 15 days, while the state obtained US$146k in tax revenue.
Prairie Meadows Racetrack & Casino in Altoona was the facility with the best numbers in August. The casino totalled US$3.4 million in sports handle and paid approximately US$2.9 million to gamblers. It also contributed US$35k to the state, which is US$3k higher than what Ameristar II registered. The latter came in second place as it reported US$1.3 million in sports betting handle and US$884k in payouts.
Moreover, Isle of Capri registered US$645k in sports betting handle, while Horseshoe Casino Council Bluffs reported US$441k. The facilities totalled US$493k and US$248k in sports betting payouts, respectively.
