Iowa sports betting handle grows in November, nears $153M since launch

The Iowa Racing and Gaming Commission reports $59,344,805 was spent on sports betting  either online or in person. in November — nearly 13 million dollars more than October. The payout was $55.7 million.

Racing and Gaming Administrator Brian Ohorilko said he expected revenue to continue increasing as more casinos got their operations up and running, Radio Iowa reports.

Betters have put down nearly $153-million ($152,966,829) since sports wagering became legal in mid August. Fifty-six percent of the money was bet online. The state has taken in around $1.1 million in sports betting taxes, based on a tax rate of 6.75 percent.

The overall numbers break down to nearly $85.1 million wagered online using the apps offered by eight casinos, and $67.9 million via the 10 venues where betting activity is retail — meaning patrons have to travel to a casino where they’ve registered to place a bet.

Online sports wagering is offered at casinos in Altoona, Bettendorf, Burlington, Davenport, Dubuque, Larchwood, Osceola, Riverside and Waterloo, while the Casino Queen in Marquette just attained a sports betting license but posted no activity in November.

Overall adjusted gross revenue stood at nearly $16.4 million for the year to date — split $9.74 million retail and $6.635 million online, according to commission data.