Iowa posts $289.7m sports betting handle during January
Sports wagering generated more than $1.7m in taxes for the month.
Key Points
- Players walked away with more than $263.5m in winnings last month
- The state’s monthly handle grew by $20m year-over-year
The Iowa Racing and Gaming Commission has released its sports betting results for the month of January. The commission reported a nearly $289.7m statewide sports betting handle for the month.
The state’s monthly handle rose by nearly $20m when compared to what the state posted a year ago.
Internet net receipts during the month reached $25.5m, while total net receipts reached close to $26.1m.
Last month, 19 operators took online bets from Iowa players, accounting for a total internet sports betting handle of close to $268.9m.
Players statewide walked away with $263.5m in winnings during the month of January. Almost $243.5m of those wins came from wagers that were placed online.
Last month, sports wagering in Iowa contributed more than $1.7m in taxes.
To date, 38 states, as well as the District of Columbia have legalized sports wagering since the US Supreme Court lifted the federal ban on the practice in May 2018.
Iowa opened its regulated sports wagering market more than a year after the US Supreme Court overturned the federal sports betting ban.
Good to know: Sports betting has been legal in Iowa for more than five years
A lawmaker in Iowa recently said a ban on new casino licenses does not have the support needed to pass in the Senate.
Iowa’s House of Representatives recently passed a bill that would invoke a ban on new casino projects for the next five years.
House members approved the ban by a vote of 68-31.
Senate File 76 includes a moratorium on issuing new licenses until 2030, the local report said. The bill would also limit the number of gambling licenses that the state issues to 19.
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