Sports Betting in Iowa is Off to a Great Start, $2.2 Million in Revenues

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Sports Betting in Iowa is Off to a Great Start, $2.2 Million in Revenues

Iowa Sports Betting is Off to a Great Start as Iowans wagered $8.6 million on sporting events during the first 17 days of legal sports betting in the state

For the first sixteen days of legal wagering in the state licensed operators have generated more than $2.2 million in revenues. William Hill was one of the top winners in the state. The gaming operator offers its award-winning platform to Prairie Meadows Racetrack and Casino. The two, led the market for the first two weeks from August 15 through the 31st.

According to reports released by the Iowa Racing and Gaming Commission, players wagered more than $8.6 million total for the two-week period while winning $6.4 million. Iowa permitted mobile betting to take place from the start. Iowa residents were allowed to register in person for an online account if they wanted to place mobile wagers. Total mobile wagers amounted to $3.7 million with operators earning $424,129 from mobile bets. Online accounts contributed to most of the earnings, $4.9 million while revenues generated 1.7 million.

Iowa banked $145,914 in taxes just from sports betting and earned a 6.75% gross revenue tax on all licensees. With the sports betting sector starting out with a strong performance for the first two weeks, activity is expected to surpass all projections for the year, which is a good thing for the state.

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