Iowa Sportsbetting Generates $2.2 Million in 2 Weeks

In its first sixteen days, regulated sportsbetting has generated $2.2 million in revenues for betting groups, proving that a small state can be a lucrative market for the activity.

Sportsbetting went live on August 15th, and the first slate of numbers run through the 31st of the month. There was $8.6 million wagered during the period, with gamblers winning $6.4 million. Retail betting saw $4.9 million wagered, and generated $1.7 million during the period. Mobile betting saw $3.7 million generated in wagers, with $424,129 in revenues going to the books.

The Hawkeye State had $145,914 generated in tax revenues for the two weeks, as sportsbetting is taxed at a 6.75% rate for gross revenues.

The numbers show that sportsbetting can be popular in Iowa, which has a population of 3.5 million. The numbers will likely grow, as football season is in full swing. This past weekend the University of Iowa and Iowa State University faced off in the state's biggest rivalry, with the 18th ranked Hawkeyes prevailing 18-17.

About the author

1 reply • Last post

Comments

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 6894
Thanks given: 3456
Thanks received: 978
27 September 2019 - 7:39pm
#1

Quite a decent number for an activity that it lasts just two weeks and more so in a low populated state like Iowa on top of that, many bookies would be keen to join the market there seeing those numbers I guess.

Post new comment

Have something to say? Agree or disagree? Tell us what you think!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.