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The Iowa Racing and Gaming Commission released some striking data regarding sports wagering in August. With a considerable handling of around $167 million, the state saw a notable gain of about $26 million over the previous year.
Despite being substantial, August’s total handle fell short of March’s record high of $272 million, which is still the sixth-largest since Iowa opened its sports betting market. Despite this, August’s adjusted gross revenue (AGR) of $15.8 million highlights a successful month for sportsbooks.
Nineteen providers allowed bets from Iowans, and online sports betting was a key factor. The internet handle was close to $156.1 million, suggesting a strong inclination toward digital media. Last month, players in Iowa took home $151.2 million in winnings, over $143.1 million of which came from online wagers.
Sports betting brought in around $1.1 million in taxes during the month of August. This income is a significant component of the five-year-old legal sports betting market in Iowa. More than a year after the federal ban was repealed by the U.S. Supreme Court, the state approved of regulated sports betting.