Iowa Sports Betting Industry Grows with more Sportsbooks
The Iowa sports betting industry is growing fast, and continues to generate better revenue numbers as each month passes by. The trend is very similar to the growth of Nevada and New Jersey. Which are two of the best performing betting markets in the US. Learning how to become a bookmaker is very relevant, mainly because the popularity of sports betting is increasing, therefore opening new markets for sports bettors.
And just like New Jersey, Iowa is optimistic that their numbers will still increase. Especially as they add more revenue streams in the form of online betting apps. These sports betting apps run by Q Casino and PointsBet have recently launched their apps.
Iowa Sports Betting Industry Grows
By opening digital gambling, the industry can earn more in both handle and revenues from a new income stream that has shown tremendous potential. And with New Jersey’s handle made with 80% online wagers, the numbers for Iowa could increase in the next few months.
The Iowa Racing and Gaming Commission has recently issued licenses for digital gambling operators to launch their products in the state early in November. A possible hindrance for people, however, is the requirement that all bettors will have to register in person first. Basically, to enjoy the convenience of betting wherever and whenever, you must spend one afternoon or evening to visit a casino that offers sports betting, and register there.
But despite the small bump in the road, the sports betting industry in Iowa is still expanding. Currently, there are around 19 casinos having their own sportsbooks. More are seen to follow. Sports betting in Iowa was only opened in August 2019. But since then, we are seeing a net revenue of $7.7 million, and a total retail handle of $42.2 million. As for online sports betting, the handle is at $51.4 million, with a revenue of $5.1 million. As long as the market continues to develop, and PPH sports betting software providers like PricePerPlayer.com continue to help bookies create their own sportsbooks, then the revenues for US sports betting will only continue to grow faster.