Since legal sports betting launched August 15 in Iowa, more than $8.5 million has been wagered at the state’s 14 casino, according to state data. Those casino netted $2.1 million in profit and the state will receive $146,000 in tax revenue. Prairie Meadows in Altoona topped the rest, taking in more than $3.4 million in sports handle and paying out about $2.9 million.
Racing and Gaming Administrator Brian Ohorilko said the most surprising development was that only 42 percent of bets were made with mobile apps. “We’re seeing that at a much higher rate in other states that have both retail and mobile sports wagering,” he said.
Ohorilko noted that under Iowa law, until January 2020 bettors must register in person at a casino, so many wagerers probably placed their bets following registration. “I think that could be one reason why we are not seeing the high mobile percentages. I think also some of the apps that did launch were not where the companies would want those mobile platforms to be,” Ohorilko said. For instance, he said one of the companies’ mobile apps isn’t available yet, so bettors have to place bets on the computer app.
Ohorilko added, “I think as some of that is worked out, it will be more convenient for customers if there is not a reason for them to go to a casino. It’s reasonable to expect we’ll see the mobile piece really do better in the months to come.”
Sports betting led to increased attendance as expected, Ohorilko said. “Many casinos were up 15 percent or more with revenue and admissions. But to be fair, other properties that didn’t have sports also had good months. It still may be a little early to figure out how much sports wagering is impacting other forms of gambling,” he stated.
