Throughout the end of 2020 and start of 2021, news has been swirling around in many different states across the US as changes have been made to online sports betting and online gambling legislation that has been aimed at making platforms more accessible – here are some of the biggest options online that have been gaining popularity and will continue to succeed too, but after a period of relative quietness and some suggestions that the market has been shrinking, Iowa has shown the strength of its own sports betting market as it reaches an all time high having increased by over 94% in September.
The increase had been seen between a period of August and September growing from $108.4 million in August to over $210 million wagered in September with the biggest attributions going to the NFL and college football seasons, and most recently with the Cy-Hawk football game which is a huge yearly event that takes place – with online sports betting being the big home for most players in Iowa, overtaking land based options, it has helped to show just how important it is becoming across the US to introduce online options for players to take advantage of.
Despite these huge numbers, it has been suggested that sports betting makes up just a small portion of profits for casinos as a whole with sports books performing a bit differently, in many states that are introducing online sports betting bills it is aimed solely at that – online sports betting – and online gambling through casinos isn’t part of the language for what may change, but these figures go once again to show just how important it may be to introduce some further legislation that expands these online sports betting features to also include online gambling as a whole, with the numbers shown being very promising for the change.
For Iowa in particular, the past couple of months have helped to show how important sports wagering is, difficulties had been reared last year with the cancellation and postponement of many of the states biggest sports and so this change and growth is a welcomed relief, the state has now collected a total of $5.2 million in tax revenue this year alone from sports betting and a very bright future ahead – as interest continues to grow and the sports betting options become more available these numbers will likely only continue to grow as has been seen in other states, and may start to attract international interest with the opportunity for bigger European sportsbooks and similar businesses hoping to expand offerings and creating yet more economic opportunities with new jobs and new business as a whole.
