Over 70% of sports bets were placed via mobile apps

Iowa sports betting handle marks new monthly record in November

As of January 1, Iowans 21 and older who prove residency will be able to establish an account online.
2020-12-15
Reading time 1:07 min
Sports wagers climbed 6.4% to $87.2 million in November, while state revenue fell 10.5% from October. Iowa’s casino revenue had a slight drop compared with October.

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.

 

Leave your comment
Subscribe to our newsletter
Enter your email to receive the latest news
By entering your email address, you agree to Yogonet's Condiciones de uso and Privacy Policies. You understand Yogonet may use your address to send updates and marketing emails. Use the Unsubscribe link in those emails to opt out at any time.
Unsubscribe
EVENTS CALENDAR