Iowa Sports Betting Alive & Well With NASCAR
Sports Betting Was Sidelined For 2 Months, But Now It's Back
Good news coming out of the Hawkeye State: sports betting enthusiasts are back in action. Gaming operations were for the most part shut down the last two months, due to coronavirus shutdowns that impacted the sports world.
Republican Governor of Iowa, Kim Reynolds, has not issued an order that will reopen the state’s 19 casinos. There is no word yet on when Reynolds might issue the order. With very limited sporting events to bet on, Iowa players were able to bring in an impressive almost $7 million sports bets in May.
Iowa sports betting players took advantage of the limited sports online to make their wagers. For some players, it’s not the selection they would have preferred, but with what’s going on, they’ll take it. NASCAR, UFC, and German soccer presented Iowa players, and players in other states, some events to make wagers.
Sporting Events Make Their Slow but Certain Return to Arenas, Golf Courses, and Playing Fields
The Iowa Racing and Gaming Commission runs and regulates all gambling in the state, including sports betting. According to the numbers released by the commission on Tuesday, Iowa residents bet a total of $6.45 million dollars in the month alone, which given the current state of affairs is a very promising figure and the state was able to take in $500,000 in taxable profits in the month of May.
The state has a little over 3 million residents, and according to gaming officials, these May numbers indicate the hunger for sports betting. A gaming official predicted that “When sports games are back to a regular schedule, sports betting will be doing brisk business in the state going forward.”
Max Bichsel, a gambling entrepreneur from Iowa, weighed on the current state of affairs with sports betting. He said, “After witnessing Iowa’s sports betting handle plummet from $56 million in February to just $ 1.5 million in April, we’re starting to see the light at the end of the tunnel.”
Iowa Sports Betting Handle Experienced a 344% Rally in May
All the experts who have weighed in on Iowa sports betting say the resurgence of sports betting numbers in May is definitely a very good sign.
Bichsel also added, “that sports have not really fully come back at all. We have some dates of when things are expected to get back, but there has been no major action yet. NASCAR is really leading the way right now, and it is because of NASCAR that Iowa and other states are seeing a real rebound.”
The entrepreneur and former college star athlete said, “We are really grateful to NASCAR, for putting their hat in the ring. It’s helped us to make a comeback and deliver some hope to everyone in the gaming industry. It was a really positive move for our business.”
Sports betting was legalized in Iowa by Governor Reynolds, the first female governor of state, and state legislators in August of 2019. Since it launched, with online access too, Iowans have wagered over $500 million in sports bets.
