Iowans continue to spend big money on sports betting and wagering receipts continue to rise. The amount of the sports bets placed rose from $38.5 million in the month of September to $46.5 million in the month of October.
Sports betting is offered at 18 of the 19 Iowa casinos across the state and seven of those allow bets to be made online though an app. Online bets accounted for $25.9 million of the $46.5 million of September bets. In order to place a bet on an app, a person must first go to a casino to set up an account, however that requirement will go away in January 2021.
Since sports betting went live in August, Iowans have bet more than $93.6 million and have won more than $12.7 million. The state has collected less than a million dollars in tax revenue on the bets at a total of $861,846.
Earlier this month, daily fantasy sports became legal in the state, allowing Iowans another option to bet on sports. Daily fantasy sports give participants the opportunity to choose a roster of players competing that day and play against friends or others across the country.
