Iowa’s sports betting market is off to a strong start.
According to figures from the Iowa Racing and Gaming Commission (IRGC) sportsbooks in the Hawkeye State generated more than $4.9m in revenue in September, the first full month of sports betting in Iowa.
September’s revenue marked a significant increase on the $2.2m Iowa’s sportsbooks generated in August.
Bettors in the state wagered $38.5m on sporting events in September and won back a total of $33.6m. It is also interesting to note that sports betting was the most popular form of gambling in the state during September.
Looking closer at the figures
Looking closer at the figures, The William Hill sportsbook at Prairie Meadows processed $14.5m in sports bets and generated just $1.5m in revenue.
The Ameristar Casino Hotel in Council Bluffs was the second-highest revenue earner in the state after generating $613,220 from $3.8m in sports bets.
The third highest-earning sportsbook in the state was the sportsbook at the Diamond Jo venue in Worth, which processed $2.3m in bets and held onto $525,409.
Mobile betting in Iowa
Online and mobile wagering accounted for $21.8m of the total $38.5m wagered in the state.
At this moment in time, there are only two online sportsbooks that serve the state – William Hill and Elite Sportsbook.
Although online and mobile betting is legal, bettors must first register their online sportsbook accounts in person at a land-based sportsbook. However, from 1 January 2021, bettors will be able to create accounts remotely, from anywhere within the state, eliminating the inconvenience of travelling to a land-based sportsbook.
Under Iowa’s sports betting law, each licensed casino can offer two online brands (Skins). This means that with 19 casinos in the state, there could be as many as 38 online sports betting options in the future.
Sports betting in Iowa
Governor Kim Reynolds signed Iowa’s betting bill into law back in May. 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.
Under the state’s sports betting laws, residents and visitors must be at least 21 years of age and physically located within state lines before they can place a bet. Operators in the state are required to use geolocation technology to verify a customer’s location.
The only bet types that are prohibited under state law are proposition bets on in-state college teams.
For an in-depth look at each state’s sports betting statistics visit the BettingUS stats page.