Iowa gamblers wagered nearly $87.2 million in November on pro and college sports, up 6.4% from the previous month and setting another monthly record.
November numbers were boosted by $62.4 million in wagers —over 70% of total bets— that were placed via mobile apps, according to figures released Friday by the Iowa Racing and Gaming Commission, as reported by The Gazette. So far in the five months of this fiscal year, sports bets made at state-licensed casinos or remotely have topped $314.6 million — with $222 million wagered via online services.
When sports betting was legalized in Iowa beginning Aug. 15, 2019, state legislators and Gov. Kim Reynolds imposed a requirement that sports bettors for the first 18 months would have to travel to a state-licensed casino to establish an account in person. That requirement goes away Jan. 1, when Iowans 21 and older who prove residency will be able to establish an account online. Industry officials think that will spur more options and more wagering based on experiences in other states where sports wagering is legal.
November’s sports bets generated $8.1 million in state revenue, down 10.5% from October, bringing year-to-date total state tax collections on sports wagering to nearly $1.87 million.
Iowa’s casinos had a slightly down revenue month compared with October, with adjusted gross receipts of about $104 million and lower attendance figures at 1,157,533 as the COVID-19 pandemic continued to affect in-person visits.
For the year, the 19 state-licensed casinos have posted $584.5 million in adjusted gross revenue, which has generated more than $111.9 million in state tax collections.