{"id":4550,"date":"2019-09-16T12:42:23","date_gmt":"2019-09-16T12:42:23","guid":{"rendered":"https:\/\/dev.offshoresportsbooks.com\/news\/?p=4550"},"modified":"2024-07-17T12:42:54","modified_gmt":"2024-07-17T12:42:54","slug":"iowas-handle-hits-8-6m-in-16-days-of-betting","status":"publish","type":"post","link":"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/","title":{"rendered":"Iowa&#8217;s Handle Hits $8.6m in 16 Days of Betting"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li><strong>Iowa\u2019s licensed sportsbooks claimed $8.6 million in total wagers<\/strong><\/li><li><strong>Companies generated $2.2 million in revenue<\/strong><\/li><li><strong>Estimated $145,914 were paid in the form of tax to the state\u2019s coffers<\/strong><\/li><\/ul>\n\n\n\n<p><em>In the\nfirst 16 days of legal betting, Iowa has managed to generate the impressive\n$8.6 million in total wagers. Not all licensed sportsbooks started operation in\nthe period between August 15 \u2013 August 31.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Iowa Bags $2.2m in Total\nSports Betting Revenue in 16 Days<\/h2>\n\n\n\n<p>Licensed\noperators in <strong>Iowa<\/strong> hit a $2.2 million in sports betting revenue within 16\ndays of legalizing the industry in the state. The <strong>Prairie Meadows Racetrack\nand Casino<\/strong> powered by British betting agency <strong>William Hill<\/strong> generated\nthe most notable results.<\/p>\n\n\n\n<p>Since <strong>August<\/strong>\n<strong>15<\/strong>, Iowa has been accepting sports wagers. The numbers through August 31\nput the overall revenue at $2.2 million, while the total amount wagered over\nthe period hit $8.6 million. Bettors took $6.4 million home, the <strong>Iowa Racing\nand Gaming Commission<\/strong> official data confirmed. <\/p>\n\n\n\n<p>Iowa stands\ntall in a market that is pestered by many regulations. For example, the state\nhas embraced mobile wagering, but certain drawbacks exist \u2013 such as the\nregistration process. Anyone who wants to bet from their smartphone and\nremotely, will need to appear in-person at an authorized sportsbook and\nregister there. <\/p>\n\n\n\n<p>With this in mind, retail activity generated $4.9 million of the total handle with another $3.7 million coming from mobile. Going into November, however, the state is probably going to see <a href=\"https:\/\/www.wsj.com\/articles\/mobile-sports-betting-is-the-moneymaker-as-more-states-legalize-11567445689\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">a market spike in its overall operations on mobile<\/a>. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Taxes and Total Money\nWagered in Iowa in August <\/h2>\n\n\n\n<p>Tax wise,\nthe state claimed $145,914 in total winnings in August. The overall tax is not\ntoo steep either, with only 6.75% on the gross revenue books turn. Not\nsurprisingly, the William Hill-powered Prairie Meadows Racetrack and Casino\nmanaged to post some solid results, with the handle hitting $3.4 million. This\ngenerated $532,771 in pure revenue numbers. <\/p>\n\n\n\n<p><a href=\"https:\/\/dev.offshoresportsbooks.com\/news\/penn-national-announces-new-partnerships-for-us-sports-betting-and-igaming\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Penn National Gaming<\/a> came second. The Ameristar Casino Hotel Council Bluffs managed to rake in $1.4 million in total amount wagered with $480,650 cited as the gross revenue by the property. Other notable mentions included the Horseshoe Casino Council Bluffs which posted $441,273 in total handle. <\/p>\n\n\n\n<p>The property\nis owned by Caesars Entertainment and it operates on software provided by\nScientific Games. Another property to post good results was The Isle Casino\nBettendorf in Waterloo which netted $158,694 in terms of revenue. That property\nwas followed by the Isle of Capri in Bettendorf with $155,899. Interestingly\nenough, both properties are powered by William Hill. <\/p>\n\n\n\n<p>Results were\na little more modest down the line, with Elite Casinos\u2019 Riverside Casino and\nGolf Resorts registering $161,297 in revenue, but taking only $494,347 as\nopposed to the Isle\u2019s properties, which took roughly $100,000 more. <\/p>\n\n\n\n<p>There were\nquite a few venues that took under $90,000 on their sports betting operations.\nSeveral properties, including the Casino Queen, Diamond Jo, the Hard Rock\nCasino and the Wild Rose casino accepted no wagers during the first two weeks\nof operations. &nbsp;<\/p>\n\n\n\n<p>Meanwhile, another state is preparing for a big launch. <a href=\"https:\/\/chicago.suntimes.com\/2019\/8\/27\/20835493\/illinois-sports-betting-gaming-board-public-comment\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Illinois is asking residents<\/a> how they feel about the prospect of legalizing sports betting in their territory. <\/p>\n","protected":false},"excerpt":{"rendered":"Iowa\u2019s licensed sportsbooks claimed $8.6 million in total wagers Companies generated $2.2 million in revenue Estimated $145,914 were paid in the form of tax to the state\u2019s coffers In the first 16 days of legal betting, Iowa has managed to generate the impressive $8.6 million in total wagers. Not all licensed sportsbooks started operation in [&hellip;]","protected":false},"author":13,"featured_media":4553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3033],"tags":[],"class_list":["post-4550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Iowa&#039;s Handle Hits $8.6m in 16 Days of Betting - The Latest Sports Betting News<\/title>\n<meta name=\"description\" content=\"Iowa posted $8.6 million in betting handle generated within 16 days of the official launch.The state&#039;s sportsbook generated $2.2m in revenue.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iowa&#039;s Handle Hits $8.6m in 16 Days of Betting - The Latest Sports Betting News\" \/>\n<meta property=\"og:description\" content=\"Iowa posted $8.6 million in betting handle generated within 16 days of the official launch.The state&#039;s sportsbook generated $2.2m in revenue.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/\" \/>\n<meta property=\"og:site_name\" content=\"The Latest Sports Betting News\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-16T12:42:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-17T12:42:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.offshoresportsbooks.com\/news\/wp-content\/uploads\/sites\/2\/2019\/09\/Iowa-Sports-Betting-Generates-2.2m-revenue-for-Sportsbook.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Carmen Thompson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@offshorebookies\" \/>\n<meta name=\"twitter:site\" content=\"@offshorebookies\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carmen Thompson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/\"},\"author\":{\"name\":\"Carmen Thompson\",\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/#\/schema\/person\/182ef9f76a221c89566ecf333501314a\"},\"headline\":\"Iowa&#8217;s Handle Hits $8.6m in 16 Days of Betting\",\"datePublished\":\"2019-09-16T12:42:23+00:00\",\"dateModified\":\"2024-07-17T12:42:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/\"},\"wordCount\":506,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/#organization\"},\"articleSection\":[\"Industry News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/\",\"url\":\"https:\/\/dev.offshoresportsbooks.com\/news\/iowas-handle-hits-8-6m-in-16-days-of-betting\/\",\"name\":\"Iowa's Handle Hits $8.6m in 16 Days of Betting - 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