Iowa generates $2.2m in first two weeks of legal betting

Licensed operators generated $2.2m in revenue from the first sixteen days of legal wagering in Iowa, with the William Hill-powered offering at the Prairie Meadows Racetrack and Casino leading the market over the period.

Iowa’s regulated wagering market opened for business on 15 August, with the inaugural set of results setting out figures through to 31 August. Customers wagered $8.6m in total over the period, winning $6.4m, figures from the Iowa Racing and Gaming Commission reveal.

While mobile betting was permitted from day one, players are required to register in-person for an online account. This contributed to retail activity accounting for the bulk of handle ($4.9m) and revenue ($1.7m) in the period to 31 August. Customers wagered a further $3.7m via mobile, with operators holding $424,129 of this sum.

Across both channels, Iowa took $145,914 in tax from sports betting in August, with a 6.75% gross revenue tax levied on licensees.

Read the full story on iGB North America.

Image: Tony Webster