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$8.5M-plus wagered in Iowa's first month of sports betting
15th September, 02:51DES MOINES, Iowa (AP) -- More than $8.5 million was wagered at 13 participating casinos in Iowa's first month of sports betting.
Ames station WOI reports that figures release by the Iowa Racing and Gaming Commission show the state reaped nearly $146,000 in tax revenue from the wagers on sports events.
The report shows Prairie Meadows in Altoona topped Ameristar II in Council Bluffs, with more than $3.4 million in sports handle -- or money placed on bets -- and nearly $2.9 million paid out to betters.
On Aug. 15, Iowa became the 11th in the nation and first in the Midwest to allow such wagering. Iowa's law allows betting on-site or through a mobile app, but requires mobile betting to be done within the borders of the state. Betting software includes precision geofencing technology that nullifies bets made outside of Iowa.