Iowa is just not a big state. It’s inhabitants of about 3.1 million folks locations it because the thirty third most populous US State. However these three million Iowans positioned $215 million value of sports activities bets throughout February, 2022.
The state’s 18 licensed sportsbooks noticed their enterprise in February 2022 leap by an astonishing 50 p.c over February 2021’s $143.6 million deal with. Regardless of the spectacular haul, Iowa operators truly got here in about 28 p.c decrease than January’s $303 million deal with.
Tremendous Bowl motion fueled $16.275 million value of the motion in Hawkeye nation for the month, and was practically an identical to February 2022’s $16.3 million in wagers on the Massive Sport. PlayIA lead Iowa analyst Russ Mitchell commented on the February numbers and upcoming motion saying, “A comparatively flat Tremendous Bowl deal with was considerably disappointing, however in any other case Iowa’s sportsbooks stored chugging alongside in February. A surge in betting ought to accompany March Insanity, particularly with Iowa and Iowa State possible within the area.”
“And sportsbooks can breathe a sigh of reduction now that baseball has apparently reached a labor deal,” he added.
After all of the payments had been paid, Iowa operators wound up with about $8.6 million in income. That’s down 40 p.c from January, however up 11.3 p.c over final February.
When all was stated and performed, the State of Iowa pocketed $593,540 in tax income, bringing their complete for the yr to $1.6 million from sports activities betting.
PlayUSA.com Community analyst Eric Ramsey summed up the Iowa sports activities betting market just lately saying, ““Iowa’s sportsbooks have regularly outperformed the state’s comparatively small inhabitants during the last yr. The tempo of development will possible gradual considerably within the coming yr because the market reaches a extra mature state. However the information will nonetheless come as soon as soccer returns this fall.”