5BTC or 111% + 111 Free Spins!
New players only. Exclusive 111% Welcome Bonus + 111 Free Spins
According to the most recent figures from the Iowa Racing and Gaming Commission, the sports betting industry in Iowa had outstanding performance for October 2024. In comparison to October 2023, the state’s gross sports betting handle for the month increased by over $40 million to roughly $295 million.
The latest figures show a steady growth trend in Iowa’s sports betting market. Online wagering continues to dominate the state’s betting activity, with 19 operators taking online bets from Iowa players. Online sports betting accounted for almost $275 million of the total handle.
Even though overall handle performed well, sports wagering net receipts in October were just about $18.4 million. This represents a drop of almost $9 million from September’s numbers, which is indicative of the nature of the sports betting business and variations in win rates.
In a successful month, Iowa players earned $276.5 million, of which $257.2 million came from online wagers. The sports betting industry’s economic influence in the area was further cemented when the state’s sports betting market paid more than $1.2 million in taxes.
Iowa’s success in the sports betting sector comes as other states continue to explore the potential of legalized wagering. Since the US Supreme Court overturned the federal sports betting ban in 2018, 38 states, along with the District of Columbia, have legalized sports betting.