Casinos across the state have had three full months to take bets on sporting events, top to to millions of dollars in wagers, but a majority from the money that individuals are betting is happening with out anyone stepping foot in a casino.
Earlier this year, Iowa became the 11th state within the nation to offer sports betting. This came following a 2018 Supreme Court choice cleared the way for sports gambling nationwide. Iowans started legally putting bets on sporting events on August 15, 2019.
At Riverside Casino and Golf Resort, General Manager Dan Franz stated he and his team nonetheless wish to determine the ceiling for sports betting. He stated having the option to bet on a game or match online has turned into big company for the casino.
“It’s just been a enjoyable add to our business,” Franz said. “It’s been lots of excitement, a lot of individuals coming down right here towards the book for the very first time.”
Based on a November report from the Iowa Racing and Gaming Commission, many area casinos have noticed lots of early success.
At Riverside, more than $6.6 million has come via its Elite Sportsbook. Prairie Meadows Racetrack and Casino in Altoona has seen $35.7 million in bets. The Isle Casino Hotel in Waterloo has taken greater than $8.3 million. So far, all of the state’s casinos have taken in much more cash than they’ve paid out.
However, most of the money that is being wagered statewide isn’t physically wagered inside a casino. Prairie Meadows, for example, has seen greater than $32 million of its total sports betting revenue from online betting.
Franz said the dominance of on-line wagering can also be true for Riverside.
“Here we’re heavy on-line,” Franz stated. “About 80 % of our bets we see on our online platform.”
Elisabeth Kissling, the Marketing Coordinator for Foundation 2 in Cedar Rapids, said that online betting ability could prove problematic for some.
“I think occasionally when you’re using an app or online, it doesn’t appear like genuine money,” Kissling said. “You’re not putting the coins in to the machine or physically touching the cash. So that could make it seem like ‘oh I’m just playing a game,’ and it’s genuine life.”
Franz stated online wagering might really make things easier, not only to bring in cash, but assist individuals monitor what they’re betting.
“You can keep track of it all that way, keep spending budget, keep yourself below exactly where you need to from a wagering standpoint,” Franz stated. “It’s comfort. That speaks a great deal.”