Figures released by the Iowa Racing and Gaming Commission show Iowans bet $368 million on professional and collegiate sports in fiscal 2020, which ended June 30—even though Covid-19 interrupted most sports starting in March. Most of the bets—more than $223.6 million—were placed online.
Sports wagering launched in the state on August 15 and generated more than $25.7 million in net receipts for Iowa’s 19 state-licensed casinos during the fiscal year—while the casinos’ overall adjusted gross revenue dropped by about 20 percent as casinos closed from mid-March to June 1. Iowa casinos took in $1.163 billion in fiscal 2020, compared to $1.457 in fiscal 2019. Iowa Racing and Gaming Commission Administrator Brian Ohorilko said, “The numbers would have been lower had the facilities not been able to offer sports betting.”
Wes Ehrecke, spokesman for the Iowa Gaming Association, noted, “Sports wagering has been a benefit,” even though Covid-19 severely limited sports betting options.
In fiscal 2020, sports betting produced $1.8 million in state tax revenue, bringing overall gambling revenue of $230.74 million to the state, compared with $291.1 million in fiscal 2019. Cities and counties each received $5.8 million in gambling tax receipts.
Gambling.com Analyst Ron Fritz said as some sports events returned and casinos opened, Iowa’s sports betting handle in June rose 82 percent to $12.7 million compared with the previous month. All but $1.1 million of those bets were made online. “June numbers at $12 million in sports betting handle are still down for a normal month,” Fritz noted. Sports betting handle in February was nearly $57 million and in the first half of March was $19 million.
Ohorilko noted more than 1 million Iowans returned to reopened casinos, generating $113.8 million in revenue, a drop of 5.5 percent from June 2019. He said Iowa bettors have more options now as casinos have reopened and some sports have resumed, like the United Fighting Championship, NASCAR the Professional Golf Association Tour. “There will be more still as Major League Baseball, the National Hockey League and National Basketball Association hold training camps for the eventual restarts to their seasons,” Ohorilko said.
