- The sports betting handle numbers in Iowa for September showed over $72 million in wagers.
- Over $50 million was wagered at online sportsbooks.
- Iowa took in $348,827.61 is state tax revenue.
DES MOINES, Iowa – The Iowa sports betting handle showed major success in the month of September.
Iowa saw growth month-on-month and managed to take the largest cut in sports betting handle from online or internet-based wagers.
Iowa’s high betting numbers can be attributed to the NBA postseason, MLB playoffs, NHL playoffs, and the start of the NFL season. The Kentucky Derby also took place in the month due to the COVID-19 related postponement.
Iowa’s Strong September Showings
The legal Iowa sports betting market continued to show growth as more sporting leagues continued their seasons in September. Many betting on the NFL added to the over large September betting handle numbers.
In total, the official reports show $72,397,241 was wagered on sports. Over $50 million of the wagers were taken at online sportsbooks, while $22.3 million came from physical locations.
The Prairie Meadows Racetrack & Casino saw the most traffic from Iowa bettors. Over $18.2 million was wagered at the popular sportsbook, with the Wild Rose Jefferson sportsbook coming in second with $6.9 million wagered on sports.
The Isle Casino Hotel Waterloo had the third most wagers at $6.4 million, followed closely by the Diamond Jo Worth sportsbook taking in just over $6 million in the betting handle.
There was steady growth at all 18 active sportsbooks in Iowa, with both increases in online betting activity and physical wagers being taken.
In total there was a 44% increase in bets taken in September compared to August numbers, showing that the legal sports betting market is returning to a healthy state after being shut down earlier in the year due to the pandemic.
The Iowa revenue report also shows $348,827.61 in state tax revenue. This is the amount the state actually profited from sports betting as a whole.
The total sports wagering net receipts show that sportsbooks saw $5,167,819.41 in profits in September through sports betting.
The October numbers are only expected to be even bigger. The NBA Finals, MLB World Series, and the continued NFL season should lead to an even bigger boom in the next month.
Iowa sports betting is in a healthy condition now that sports have returned.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.