Iowa has officially become the eleventh state to enter the US sports betting landscape, as eight of the region’s 19 casinos debut on the first legalised day.
Launching land-based and online, the fifth state to do so, in tandem, the Iowa Racing and Gaming Commission issues licences at $45,000 with the tax rate stipulated at 6.75 per cent.
Amongst those entering sports wagering in the Hawkeye State on its first day of operation are the Kambi powered Ameristar Casino Council Bluffs, as well as the Catfish Bend Casino which entered a multi-year agreement with PointsBet.
Furthermore Bet.Works has made its first move into US sports wagering through Rhythm City Casino Resort and Riverside Casino and Golf Resort, owned by Elite Casino Resorts, which is to also facilitate the future entry of Betfred USA through its Grand Falls Casino and Golf Resort property.
Marc Brody, SVP of business development at Bet.Works, who stressed “we have only just begun,” commented: “Bet.Works is live! Elite Sportsbook is open for business and accepting wagers all across the great state of Iowa.
“This was the ultimate team effort as Iowa’s own Bobby Kaufmann, who sponsored the bill that brought sports betting to Iowa, placed the first bet at Elite Sportsbook at Riverside Casino.”
The remaining four entrants all made their respective plays alongside William Hill, marking the ninth state within which it operates sportsbooks, and represent the only incumbents of Iowa’s online sports wagering scene thus far.
“What a great day. I’m so proud of everyone who has worked so hard to bring sports betting to Iowa and to our four new sports books,” proclaimed Joe Asher, CEO of William Hill US.
“Sports betting will bring a lot of enjoyment to local sports fans. Iowa State is a four point favourite over Iowa and the early money is on the Cyclones.”
William Hill sportsbooks are in operation at Prairie Meadows Racetrack and Casino, Lakeside Hotel and Casino, Isle Casino Hotel Waterloo and Isle Casino Hotel Bettendorf.
“Lakeside is thrilled to offer a new and exciting amenity with the new sportsbook,” stated David Monroe, VP and general manager for Lakeside Hotel and Casino. “We are committed to creating the best entertainment experience in Iowa.”
However, the opportunity to generate significant revenue could be muted in the early going, due in large part to a requirement that online bettors sign up in-person at a physical sportsbook until early 2021, which it is believed will initially slow the industry’s growth.
Iowa’s entry follows Nevada, Delaware, New Jersey, Mississippi, West Virginia, New Mexico, Pennsylvania, Rhode Island, Arkansas and New York.