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Online Bookie Betting Accounts for Most Iowa Sports Bets in September

Online Bookie Betting Accounts for Most Iowa Sports Bets in September
Sean Young      -

Online Bookie Betting Accounts for Most Iowa Sports Bets in September

Iowa sports bets in September reached a total of $38.5 million. This is according to a report released by the Iowa Racing and Gaming Commission. Although there were no new online sports betting apps launched since then, online wagers made up the majority of the bets placed in the Hawkeye State.

Around $21.8 million in sports wagers were made online, which is 56.6 percent of the total bets in September. Despite getting higher handles in the month, the retail sportsbooks in the state got higher net receipts.

The 15 retail sportsbooks got a total of $2.9 million in net receipts. The amount was $900,000 higher than the revenue earned by online books. With around $4.9 million in net revenue, the state got $334,500 in taxes from Iowa sports bets.

Iowa Sports Bets in September

Online Bookie Betting Accounts for Most Iowa Sports Bets in September

Mobile sportsbooks dominated the market despite the state’s restriction that requires players to register physically at a casino connected with the online sports betting app. Due to this rule, it is hard for a bookie PPH operator to venture into the state without a deal with a casino.

The good news is that the requirement for physical registration will cease on January 1, 2021. Until that time, players need to go to a casino before using a mobile app to bet on sports. However, there are no talks about opening the market to bookie pay per head operators and other third parties.

Among the big winnings in September is Prairie Meadows Racetrack and Casino. Most of its sports betting revenue came from mobile wagers. Its handle for the month was $14.5 million, which is around 38 percent of the total.

William Hill handles the sports betting operations of the casino. It got around $13 million of the action or 89 percent through mobile betting. In fact, it earned $1.2 million of its net revenue from mobile wagers, according to pay per head news reports.