Iowans lay down $8.6 million in first weeks of sports betting

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DES MOINES — Iowans placed $8.6 million in bets during the two weeks in August that the state’s new legalized sports gambling law was in effect.

The first look at sports betting figures was produced Friday by the state agency that oversees gambling and gaming.

The new Iowa law that legalized sports betting on professional and college athletics went into effect Aug. 15. The data from the Iowa Racing and Gaming Commission covers that day through the remainder of the month.

Of that $8.6 million in total bets made during those two weeks in August, $4.9 million were placed in the casinos and $3.7 million were made online, according to the state figures.

Combined, the 13 casinos after payouts saw $2.2 million in sports betting receipts, according to the data.

The first month of sports betting produced almost $146,000 in state tax revenue.

Thirteen of the 19 state-licensed casinos accepted sports bets during August. More casinos are expected to start their sports betting programs soon.

https://www.thegazette.com/subject/news/government/iowans-lay-down-86-million-in-first-weeks-of-sports-betting-20190913