Is Iowa sports betting leveling off?

Is Iowa sports betting leveling off?

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Sports Betting

April 2019: Gamblers place bets in the temporary sports betting area last year at a casino in Philadelphia. Iowans can now place bets at casinos in the state.

After a race-horse start out of the Aug. 15 gates, legal wagering on professional and collegiate sporting events may be starting to level off in Iowa.

December’s betting activities both in person at state-licensed casinos and using online wagering apps were comparable to the previous month – with the retail handle of $59.26 million and the online handle of $33.45 million both down slightly from November.

Overall, Iowans have wagered more than $212.2 million since Iowa legalized sports betting effective Aug. 15 and have won nearly $193 million with net receipts standing at $19.28 million through last month, according to figures released by the state Racing and Commission. State receipts from the new wagering activity top $1.3 million.

The overall numbers break down to about $118.5 million wagered online using the apps now offered by 10 casinos and $93.7 million via the venues where betting activity is retail — meaning patrons have to travel to a casino where they've registered to physically place a bet.

That requirement will end Jan. 1, 2021, Iowa legalized betting on professional and college athletics as well as on daily fantasy sports sites like DraftKings and FanDuel.

The law does not allow in-game sports bets on in-state college teams such as the Iowa Hawkeyes and Iowa State Cyclones.

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