Iowa Sports Betting Revenue Down from October to November
There is no doubt that people are betting a lot of money on sports now that it is legal in numerous states, but in the state of Iowa, they saw revenue drop a bit from October to November.
Iowa saw a revenue of $8,144,095 which was down 10.5% from October according to the Iowa Gaming Commission.
Even though the revenue dropped, the number of bets actually went up from October to November, meaning more winnings for customers vs the month before.
The state of Iowa saw $87,169,919 bet in the month of October which was up 6.4% from the previous month with over 70% of bets coming in on the mobile platform.
With the ongoing pandemic, it is clear the mobile option works so well to bring in massive amounts of revenue
According to Max Bichsel, VP of US Business for Gambling.com, because of Iowa's growth in 2020, it "sets them up to see their true potential in 2021 as that registration relaxes in January", paving the way for even more customers.
Hopefully, for our state, South Dakota can move quickly in expanding the measure that was passed in November so we can have the same kinds of tax benefits that Iowa is experiencing.
Iowa brought $549,726 in sports betting taxes alone in November and saw $23,392,380 overall in taxes from casinos.
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