Iowa’s legal betting generates $2.2m in first fortnight

Licensed operators have generated $2.2m within 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 officially 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 time period, winning $6.4m, the Iowa Racing and Gaming Commission has revealed.

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

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

The Prairie Meadows Racetrack and Casino, which is partnered with William Hill was the most successful licensee in Iowa during the first two weeks of the regulation. Handle amounted to $3.4m, from which the venue generated $532,771 in revenue.

Penn National Gaming’s Ameristar Casino Hotel Council Bluffs then followed in second, with revenue of $480,650 from $1.4m being wagered. This all came through retail wagers, which was the highest in the channel over the period – with no mobile offering being launched.

The Horseshoe Casino Council Bluffs, the Caesars Entertainment-owned venue, which is a running a sports book powered by Scientific Games then came in third, with a revenue of $192,777, despite having a lower handle  ($441,273) than several other sites, although they did not offer online betting.

The Isle Casino Bettendorf in Waterloo had a handle of $916,349, with net revenue of $158,694, while sister facility the Isle of Capri in Bettendorf posted a handle of $645,040 and $155,899 in revenue. Both venues, which are operated by Isle of Capri Casinos, are partnered with William Hill.

Elsewhere, Elite Casinos’ Riverside Casino and Golf Resorts posted revenue of $161,297 from $494,347 wagered, with the operator’s Rhythm City Casino falling just short of the $100,000 revenue mark by posting $99,843 for the month, from a handle of $350,442.

All other licensed venues in the state posted revenue which struck just below $90,000, although the Commission also noted that not all licensees launched sports betting on 15 August.

As well as the Horseshoe Casino and Ameristar, the Q Casino Harrah’s Council Bluffs Casino and Hotel (Caesars Entertainment), Catfish Bend Casino (partnered with PointsBet) and Boyd Gaming’s Diamond Jo Worth Casino do not currently offer online sports betting in Iowa.

The Casino Queen in Marquette, Diamond Jo in Dubuque, the Hard Rock Casino and the Wild Rose sites in Clinton, Emmetsburg and Jefferson did not accept any sports wagers in the first two weeks of regulation.

Related Posts

Get the latest affiliate news to your inbox

Join 1000’s of digital marketers who want to keep up to date with Affiliate Marketing trends across all verticals. Sign up to our weekly Newsletter and stay updated with all our industry news, insights and interviews.

Partner Directory