Iowa sports betting handle reaches $270.8m for September
The state reported another month of year-over-year growth.
Key Points
- Net receipts and monthly handle reflected increases when compared to last year
- March holds the record for largest sports betting handle to date
The Iowa Racing and Gaming Commission has released its sports betting results for the month of September. The state reported total handle of almost $270.8m for the month.
Last month’s handle rose by close to $25m when compared to results from one year ago.
As of now, March’s $272m sports betting handle remains the sixth highest on record since Iowa opened its sports betting market.
Sports wagering net receipts reached nearly $27.5m during the month of September.
Last month, 19 operators took online bets from Iowa players, accounting for a total internet sports betting handle of close to $252m.
Players throughout the state walked away with $243m in winnings during September. Almost $227.7m of those wins came from wagers that were placed online.
Last month, sports wagering in Iowa contributed close to $1.9m in taxes.
Good to know: As of July, sports betting has been legal in the state of Iowa for five years
In other state news, local officials recently pitched a plan to the state’s gambling regulator regarding a proposed casino project proposed by the Linn County Gaming Association and its partner Peninsula Pacific Entertainment.
The estimated $275m casino development would bring a new casino to the Cedar Rapids area.
The completed destination would be home to a casino with 700 slot machines and 22 table games. The site would also feature a 1,500-seat entertainment venue, several restaurants, bars and an arts and cultural center.
Upon receiving the proposal, Iowa regulators said they would need more time to review the application and ask questions during a future site visit scheduled for November 20.
Iowa opened its regulated sports wagering market more than a year after the US Supreme Court overturned the federal sports betting ban.
Nearly 40 states, as well as the District of Columbia have legalized sports wagering since the US Supreme Court overturned a federal ban on the practice in May 2018.
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