Football Betting Brings Iowa’s Sportsbooks Major Revenue Surges

By in Industry on
3 Minute Read
  • Iowa formally launched its first regulated sportsbooks in August of 2019. 
  • Sports betting revenue has been steadily increasing in this state over the course of 2021.
  • New reports claim Iowa’s sportsbooks brought in a surge of revenue from college football betting in August. 

The state of Iowa launched its first sports betting platforms back in August of 2019. Since that time, the sports betting operators here have seen steady increases in their revenue figures. New reports claim that Iowa’s sportsbooks have been benefiting greatly from football betting in recent weeks.

Analysts predicted that a surge of revenue would come in from college and professional football. This is unlikely to slow down anytime soon.

Here’s what you need to know about this situation.

Iowa’s Sportsbooks Saw Revenue Surge From Football Betting in August

July proved to be one of the worst months so far this year for the US sports betting industry. That was not much of a surprise for experts. The limited number of major, professional sporting events in July often leads to low revenue figures for regulated sportsbooks.

August is already proving to be a better month for the US sports gambling industry. That is certainly the case over in Iowa. Many of the sports betting operators reported a major surge in their revenue figures in August.

Iowa’s sportsbooks saw a handle of $108.42 million in August. College football helped to bring in the vast majority of these wagers. Brian Ohorilko, a member of the Iowa Racing & Gaming Commission, spoke about this handle increase to the media this week.

“We did see a bounce back in the month of August,” Ohorilko said. “What’s unknown is what we can expect in the fall this year once we have a full slate of activity. There are still many things that are unanswered. It’s hard to know where our market will settle.”

September is expected to be an even better month for the US sports betting industry. In fact, states around the country are reporting massive increases in sports bets since the NFL season began.

Millions of Bets Have Already Been Placed on the 2021 NFL Season

Football fans around the US have a reason to celebrate. The 2021/2022 NFL season has officially begun. Week one has wrapped up and featured a huge number of exciting, back-and-forth games between elite teams.

It seems that sportsbooks are benefiting greatly from the start of this season. Reports surfaced earlier this week claiming tens of millions of bets have already been made on this season. That is likely to result in impressive tax revenue figures for states with regulated sports betting operations up and running.

September may end up being the most successful month in history for the US sports betting industry. Several states just launched their first sportsbooks in time for week one NFL betting. It’s becoming clear that this is was a good decision.

A number of other states are now pushing hard to get their first sportsbooks up and running. That includes Connecticut and Florida. Both of these states are likely to develop large, successful sports gambling industries.

It’s an exciting time for the US sports betting industry. Stay tuned for more updates on how much money NFL betting is bringing in as the season continues.

Best NFL Betting Options Available Online Right Now

The NFL season has just begun. The first game of week two takes place tomorrow and fans around the country have begun making their bets on how things will unfold. Many are flocking to sites like BetOnline to make these wagers.

Thursday’s game takes place between the New York Giants and Washington Football Team. The Giants (+155) lost their first game of the season to the Denver Broncos. Washington Football Team (-175) also came up short in their first regular-season game to the Los Angeles Chargers.

Want to look ahead and bet on which team will manage to win the Super Bowl next year? The Kansas City Chiefs remain the betting favorites to do so with odds of +500. The Tampa Bayt Buccaneers come next in the odds at +550. After their close game against the Chiefs last week, some even feel that the Cleveland Browns have an opportunity to win, yet they remain an underdog with odds of +1600.

BetOnline is providing a wide range of excellent NFL betting options online. That includes odds on which player will take home the MVP award at the end of the season. Feel free to check it out today!

Are you surprised to hear how much money Iowa’s sportsbooks brought in last month? How do you think these sportsbooks will fare in September? Let us know in the comments section below.

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...

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