Iowa sports betting revenue hits $2.2m in July

Iowa’s sports betting market continued to recover from the effects of the coronavirus pandemic in July.

According to the latest figures from the Iowa Racing and Gaming Commission (IRGC), sportsbooks in the state of Iowa generated $2.2m in revenue, a significant increase on the $620,740 generated in June.

Betting handle also saw a significant increase in July with bettors wagering a total of $22.9m up from $12.7m in June.

Bettors in the state wagered $17.8m online making it the most popular way to bet in July. Online betting also accounted for $1.3m of July’s revenue. Land-based betting accounted for $915,582 of the state’s total revenue and $5.1m in betting handle

Breaking down the figures

Prairie Meadows, which is partnered with William Hill, continued to lead the market in July after generating $529,540 in revenue from $7.3m in sports wagers.

Penn National Gaming’s Ameristar Casino Hotel Council Bluffs came in second place in terms of revenue after processing $1.1m in bets and holding on to $240,196. The Diamond Jo Worth Casino followed close behind with $218,125 in revenue from just over $1m in bets.

The Riverside Casino and Golf Resort processed $1.9m in sports bets and generated $168,306 in betting revenue.

The Wild Rose Jefferson venue, which is partnered with DraftKings for online betting, posted $168,306 in betting revenue after bettors staked $2.8m with the operator.

Other than Harrah’s Council Bluffs Casino & Hotel, which made a loss of $7,884 for the month, all other casinos that offer sports betting posted positive revenue in July.

Sports betting in Iowa

Governor Kim Reynolds signed Iowa’s betting bill into law in May 2019. With just 94 days between the signing of the bill and the launch of sports betting in the Hawkeye State, Iowa’s timeline to launch sports betting was one of the quickest in the US.

From 1 January 2021, bettors will be able to register online sportsbook accounts remotely from anywhere within the state, eliminating the inconvenience of having to travel to a casino. This is sure to be a positive development for both the state’s sportsbooks and consumers.

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