Iowa posts nearly $167m August sports betting handle
Wagers rose by $26m year-over-year.
The Iowa Racing and Gaming Commission has released its sports betting results for the month of August. The state reported a total handle of almost $167m for the month.
Last month’s revenue rose by close to $26m 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.
Last month, sportsbooks statewide reported $15.8m in adjusted gross revenue (AGR).
During the month of August, 19 operators took online bets from Iowa players, accounting for a total internet sports betting handle of close to $156.1m.
Players throughout the state walked away with $151.2m in winnings in August. Almost $143.1m of those wins came from wagers that were placed online.
During August, sports wagering in Iowa contributed close to $1.1m in taxes.
As of last month, sports betting has been legal in the state of Iowa for five years. The state opened its regulated sports wagering market more than a year after the US Supreme Court overturned the federal sports betting ban.
In other state news, 10 Iowa and Iowa State athletes and one Iowa basketball equipment manager connected with a statewide sports wagering sting requested to join a recent lawsuit filed in April on behalf of 26 former and current ISU and Iowa players.
The group has asked for “unspecified monetary damages from the state and its public safety and criminal investigation agencies for violating the athletes’ rights and smearing their reputations.”
The suit went on to claim that “improper conduct by investigators violated the athletes’ fourth and 14th amendment rights and caused them pain, suffering, mental anguish, humiliation and damage to their personal reputations.”
As of now, 37 plaintiffs are part of the pending suit.
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