Iowa sports betting handle reports $177.4m in April
The Iowa Racing and Gaming Commission has reported a decrease of 24 per cent compared to March but a 50 per cent rise from the same month last year.
US.- The Iowa Racing and Gaming Commission has reported sports betting handle of $177.4m for April. That’s a drop of 24 per cent from March’s total of $233.5m but a rise of 50 per cent year-on-year from $118.4m in April 2021.
More than 91 per cent of bets were placed online. Revenue was $12.4m, 14 per cent lower than in March but 61 per cent higher than April 2021. The state collected nearly $850,000 in tax receipts, raising the total for 2022 so far to more than $3.3m. Iowa’s tax revenue is running more than $650,000 ahead of 2021 through the first four months of the year.
DraftKings reported $44m in wagers placed during April, 32.1 per cent lower than the nearly $65m in March. Caesars registered $39.2m, Fanduel $38.4m and BetMGM $21m in wagers.
Iowa Racing and Gaming Commission opens applications for Linn County casino licence
In March, the Iowa Racing & Gaming Commission opened the licence application process for a new casino in Cedar Rapids, Linn County. After around 55 per cent of voters in Linn County, Iowa, said yes to a casino in Cedar Rapids in November, however the regulator could still deny a gaming licence.
Attempts to bring a casino to Cedar Rapids failed in 2014 and 2017. On both occasions, the Iowa Racing and Gaming Commission said a casino would take away from other nearby casinos – there are 19 licensed casinos in Iowa.
