Iowa Sports Gambling Grows Ever More Popular

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If there was a popularity contest in Iowa, the sports gambling sector would win. Especially in November. In fact, it was a great month across the entire US.

The action was hot in Iowa with more and more wagers placed on top sports.

Data from the Iowa Racing and Gaming Commission (IRC) tells the story for retail and mobile sportsbooks in the state. They reported a combined handle of $59.3 million.

Imagine, the state just launched its program a short four months ago. Plus, the figure represents a big rise of 27.5% from October to November for the 19 existing sportsbooks and two new operations, PointsBet and Q Casino that have mobile gambling apps.

William Hill is already included, as it already had its mobile app up and running and leads the way. Bets for the global sportsbook reached $19.1 million (paying out 18.2). Prairie Meadows Casino’s retail sportsbook did well with $50.6 million total, (returning around $46.7 million to gamblers).

No doubt November saw a good take, but net proceeds declined to 3.6 million from October’s 5.7) as gamblers honed their skills. Thus, tax revenues were also down.

Nevertheless, mobile gaming is on a roll everywhere with Iowa showing a 30% increase month over month giving William Hill a run for its money with new contenders.

Bet.Works, in conjunction with the Riverside Casino and Golf Resort, enjoyed great gains in November. Then there is their Elite Casino Resort-owned venue garnering a 74% increase in sports wagers from October to November. The handle was $4.8 million, reduced of course by give backs.

Iowa has land-based operations like FanDuel, known for its physical sportsbook housed at the Diamond Jo Casino. A handle of $4.5 million in November is not bad.

The venue borders Minnesota, a definite plus.

Source: https://calvinayre.com/2019/12/16/business/iowas-sports-gambling-scene-continues-to-gain-in-popularity/

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