More Than $8.5 million Wagered on Sports in Iowa First Month of Business
DES MOINES, Iowa (AP) — More than $8.5 million was wagered at 13 participating casinos in Iowa’s first month of sports betting.
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Ames station WOI reports that figures release by the Iowa Racing and Gaming Commission show the state reaped nearly $146,000 in tax revenue from the wagers on sports events.
The report shows Prairie Meadows in Altoona topped Ameristar II in Council Bluffs, with more than $3.4 million in sports handle — or money placed on bets — and nearly $2.9 million paid out to betters.
On Aug. 15, Iowa became the 11th in the nation and first in the Midwest to allow such wagering. Iowa’s law allows betting on-site or through a mobile app, but requires mobile betting to be done within the borders of the state. Betting software includes precision geofencing technology that nullifies bets made outside of Iowa.
