August 10, 2020

Iowa reports increase of sports betting revenue in July

Iowa reports increase of sports betting revenue in July

Iowa—Sports betting revenue in the state has increased to $2.2 million in July according to a report. This increase in revenue due to the state’s continuous recovery from the novel coronavirus (Covid-19) shutdown of sports and retail gambling venues.

Revenue went up by 261.5% from $620,740 in June—during which retail casinos were allowed to reopen after several months of closure—whereas the state’s sports handle also went up by 80.3% month-on-month to $22.9 million.

Online continued to be the main source of sports betting revenue, making a total of $1.3 million in July from $17.8 million in overall sports bets.

Retail revenue amounted to $915, 582 as more and more consumers returned to land-based facilities, with $5.1 million of bets placed in-person during the month.

A total of $20.6 million had been won by players from sports bet across online and retail for the month of July, while operators paid $151, 919 in tax from sports betting operations.

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