On August 15, following the US Supreme Court ruling in May to lift the federal ban, Iowa became the 11th state to officially legalize sports betting (7 others are yet to launch their announced sports betting).
It’s a decision that certainly paid off: in September, 15 local casinos processed a little over $38.5 million in combined sports betting wagers.
The latter half of August didn’t do too poorly either, with a state total of around $8.5 million.
But thanks to the launch of mobile betting apps, as well as the college and professional football seasons kicking off, September was dubbed the “real measuring stick.”
This is also due to it being the first full month of legal sports betting wagers.
Prairie Meadows (in Altoona) accounts for $14.526 million of the state’s total sports wagering – a staggering number – 89.2% of which ($12.963 million) was made through mobile betting.
Ameristar (in Council Bluffs) is not accepting mobile wagers as of yet, and it shows – despite being the second-largest handle for September, the venue came in at a mere $3.798 million.
This is a true testament to the power of mobile sports betting, which accounts for about 56.6% (nearly $21.8 million) of Iowa’s state total.
The state is certainly reaping the benefits, as it receives 6.75% of the casinos’ net receipts in tax revenue. Another 3 local venues went live in early October.