Iowa’s sports betting industry is gaining more action, much of it is due to online wagering. Last November, both online and retail sportsbooks are seeing a handle of $59.3 million. This is a 27.5% increase from its previous month’s numbers. And as January 2020 ends, the number is now at $270.3 million. This handle covers 6 months of operation. The numbers are not as massive as Nevada’s or New Jersey’s. But the local gambling industry of Iowa is surely growing steadily.
Of course, a lot of the credit here goes toward the inclusion of online sports betting. Iowa’s sports betting law anticipated the needs of its residents, which is why brick and mortar casinos were allowed to offer sports betting, and online sportsbooks were also given licenses. This way, they can attract revenue from gambling, regardless of location within the state.
Online Wagering in Iowa
Out of the $270.3 million handle, $152.4 million is from online wagers. Allowing an online sports betting solution is a smart move for the state, and a job well done by Iowa legislators. If we look at Iowa’s sports betting law, online bets can be made after people sign up physically in any of the state’s casinos.
This measure did in fact cause debate, as it seems restrictive and contradictory to the accessibility of online sports betting. But the state wanted to ensure that no minors will be able to join and use sportsbook software. But legislators also included a clause where this requirement may be lifted after 18 months.
This clause means that by January of 2021, more and more people will be able to gamble online without needing to register. The convenience this brings allows people to enjoy sports betting from wherever they are. The planning and execution of sports betting in Iowa is something other states should consider modeling after. The law is inclusive, allowing both retail and online sports betting. The implementation went smoothly as well, as reflected by the growing handle over the past few months.