Iowa's sports gambling explodes in popularity
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Iowans placed almost $1.25 billion in sports bets in the first six months of the current fiscal year, according to records published Friday by the Iowa Racing and Gaming Commission (IRGC).
- That surpasses the amount wagered in the entire previous fiscal year, averaging more than $6.8 million each day between July and December.
Why it matters: Much of the bets are placed online and critics like Tom Coates of Consumer Credit of Des Moines warn that the convenience is fueling addictions and social problems.
- Efforts to expand Iowa's online gaming to casino games is underway.
- Prairie Meadows is one of the only nonprofit casinos in the nation and its profits help pay county debt and assist dozens of nonprofits.
Catch up fast: Legalized sports betting is still relatively new in Iowa, officially launching in August 2019.
- An initial requirement that people sign up for sports betting in-person at an Iowa casino ended last year and some casinos believe part of their profits are being sidelined by sportsbook operators.
- The in-person rollback "was rocket fuel" for online sports wagering, Russ Mitchell, lead analyst for PlayIA.com, said in a statement.
Between the lines: Online sports betters are largely a different demographic than in-person players, according to a study that was commissioned by the IRGC and released last month.
What to watch: "It's definitely plausible" that a bill to expand online gaming will be introduced in the 2022 legislative session, Iowa Gaming Association president Wes Ehrecke told Axios Friday.
- Some members of the association support the expansion but the group will remain neutral on the issue this year, Ehrecke said.
- Polk supervisors chairperson Angela Connolly told Axios in October that she'd fight against an online gaming expansion, saying it could devastate county finances.
