Iowa Sees $2.2 Million in Revenue Collected During First Two Weeks of Legal Sports Wagering

In Iowa, where regulated wagering has been recently launched, the figures for the inaugural sixteen days of market have been posted. These point out to $2.2 million in revenue collected by land-based operators with active sportsbooks.

Prairie Meadow Racetrack and Casino, which has a William Hill-powered sportsbook, is currently leading the way. The revenue figures were revealed by Iowa Racing and Gaming Commission.

How The Numbers Stack Up in General

Iowa’s sports betting market opened on August 15th …

…and the results which are presented hereby cover the period until August 31st. During this time-frame, punters and casino goers have wagered a total of $8.6 million and won $6.4 million.

Iowa’s sports betting bill allows mobile betting, although players are required to be present at the venue of their choice in order to for an in-person. The mobile activity,, in fact, ed for a majority of handle ($4.9m) and income ($1.7m) during the sixteen day period.

The state of Iowa collected $145,914 in taxes from sports betting, while licenses gross revenue tax took $145,914.

How Do Casinos Rank?

William Hill’s sportsbook at The Praire Meadows Racetrack and Casino made the most during this period…

…as, during the first sixteen days of regulated market, this duo enjoyed a $3.4m handle and a revenue of $532,771.

Following closely in of collected revenue in second place was Penn National Gaming operated Ameristar Casino Hotel Council Bluffs. Their income amounted to $480,650 from a $1.4m handle. What is even more impressive about this is that this result was achieved without mobile betting launched.

Caesars Entertainment-owned Horseshoe Casino Council Bluffs and their sportsbook provided by Scientific Games came up third with $192.777 in revenue from a $441,273 handle. They do not have online betting as of yet.

Further down the line are Isle Casino Bettendorf in Waterloo whose handle of $916,349 resulted in revenue of $158,694. The sister casino Isle of Capri has a significantly smaller handle ($645,040) but only slightly lower revenue ($155,899). They both have William Hill sports betting technology.

Golf Resorts and Riverside Casino have reported a revenue of $161,297 from a $494,347 handle. Rhythm City Casino posted a revenue of $99,843 from $350,442 handle.

The Line Up is Not Yet Complete

What is important to note is…

…that more and more casinos will be ing the sports betting market in Iowa, because not all licensed operators have launched this technology by August 15th.

Caesars’ Q Casino Harrah’s Council Bluff Casino and Hotel and Horseshoe Casino and Ameristar, PointsBet partnered Catfish Bend Casino and Boyd Gaming’s Diamond Jo Worth Casino are not currently accepting any bets.

Clinton’s Hard Rock Casino and Wild Rose, Dubuque’s Diamond Jo and Marquette’s The Casino Queen also didn’t accept any sport wagers during this time.

Source:

“Iowa generates $2.2m in first fortnite of legal betting”, igbnorthamerica.com, September 16, 2019.