Iowa Sportsbetting

Sports betting is only legal for a mere 17 days in the state, and already the locals supported the bookmakers with $8.6 million in wagers placed. These statistics are according to data from the Racing and Gaming Commission. Somewhat earlier in the year, the state already legalized sports betting, but their legislation on athletic wagering only became valid on the 15th of August.

Currently, a total of 13 land-based casinos of the 19 in the state went live during the middle of August with their sports betting products. The revenue earned by these 13 brick-and-mortar casinos for the period of 15 – 31 August totalled on $8 576 246. The highest number of wagers was placed on collegial sport. The name is however bound to spike with the start of the NFL season as well as because the remaining six casinos are also moving into the same direction. The state of Iowa legalized retail sports betting as well as digital sports betting. The authorities also allowed land-based casinos to be able to operate many betting skins. This is all done with a very accommodating 6.75% tax rate for operators. Hence the most promising and lucrative environment has been created for sports betting to thrive in the state.

Where to Place You Wagers

The largest operator by far was the Prairie Meadows Casino, Racetrack and Hotel which is based in Altoona. This casino partnered up with one of the global leaders in the industry, William Hill. Through their office based in the US, this British bookmaker didn’t fail to deliver. A total of $3 411 885 in wagers was placed during the few days in August. This generated $532 771 in revenue.

Another top performer was the Ameristar Casino Hotel Council Bluffs. They also entered the seven-figure bracket in wagers placed with $1 364 723 which created $480 650 in revenue. The brick-and-mortar casinos currently make use of only two companies which provide the service of digital sports wagering. As mentioned, William Hill, while the other one is a newcomer to the industry, Elite Sportsbook. Wagers placed at these digital sportsbooks still accounts for less than 50% of the revenue generated in the state. In comparison with New Jersey where punters can place their wagers entirely online, they still need to complete registration at a land-based facility in Iowa before being able to put their bets online.

When digital wagering was legalized on the 15th of August, the state of Iowa became the 11th state in the United States who took on this fast-growing industry. Even though sports betting must be done within the state borders of Iowa, it can be done through your mobile or any other digital device once registered. Due to the strict restrictions concerning the boundaries of Iowa, the betting software used does include geofencing and bets placed outside of the state borders will be deleted.