Sports betting in Iowa: handle reaches $270.8m in September
The handle increased by 10 per cent year-over-year and 39 per cent from August 2024.
US.- The Iowa Racing and Gaming Commission has released its sports betting results for September. The state reported a handle of $270.8m, up 10 per cent year-over-year and up 39 per cent from August 2024 ($167m).
The nineteen operators accounted for a total online sports betting handle of $252m. Players recorded $243m in winnings during the month – almost $227.7m from online bets. Net receipts totalled $27.5m and operators paid $1.9m in taxes.
Casinos in Iowa have expressed concerns about the proposed Cedar Rapids casino. The Cedar Rapids Development Group (CRDG) and the Linn County Gaming Association formally presented their $275m investment blueprint to the Iowa Racing and Gaming Commission.
Attempts to bring a casino to Cedar Rapids failed in 2014 and 2017. On both occasions, the IRGC said a new venue would take away from other nearby casinos (there are 19 licensed casinos in Iowa). Linn County voters approved a measure in 2021 that allows developers to seek a casino licence for the county in perpetuity.
The proposed $275m development would be built on the former Cooper’s Mill site, on Cedar Rapids’ northwest side, and feature a casino with 700 slot machines and 22 table games, plus a group of restaurants, bars, 1,500-seat entertainment venue, an arts and cultural center and a STEM lab for families.
