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Iowa Gambling Industry Gets Boost from Sports Betting

Iowa Gambling Industry Gets Boost from Sports BettingIowa gambling industry improved thanks to sports betting. According to the state Racing and Gaming Commission, foot traffic in casinos increased. As a result, there’s an improvement in the state’s gambling revenue.

Iowa required players to go to a licensed casino to create an account before they can use online sportsbooks. The regulator saw a 4.5 percent year over year in the period between July and November. They noted that casinos usually have a one to two percent increase or decrease in recent years.

The improvement in casino and betting admissions is encouraging for the state regulators. Admissions are up nearly four percent in casinos. Also, slots revenue and table play are up. They want to know if the trend will continue next year.

 

Iowa Gambling Industry Improves

Regulators told bookie software news outlets that 14 casinos improved their overall revenue year over year so far. However, there are five casinos with lower revenue in fiscal 2020 so far. In the five months ending in November, the adjusted gross revenue of casinos is around $614 million. Admissions are 8.5 million in the same period.

The adjusted gross revenue in fiscal 2019 was $1.457 billion. Admissions were 19.8 million. Iowa Gaming Association’s Wes Ehrecke told bookie pay per head solutions providers that there was an increase in overall gambling numbers in recent months. They said interest in sports betting spilled over to the casino floor.

According to sportsbook pay per head reviews and news outlets, there was an increase in admissions, revenue, and traffic in all state casinos since August when the state officially launched sports betting.

Most casinos added entertainment amenity that allows people to watch sports and bet on them. Aside from betting on sports, the state also allows daily fantasy sports sites. FanDuel and DraftKings just completed a full month of operations in the state.

However, the state doesn’t allow independent companies to start a sportsbook. It allows only casinos to operate bookie operations. However, it is the right time to learn how does pay per head work. That way, you are prepared in case the state opens the market to other sportsbook operators in the future.

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