August wagers in Iowa increased more than 20% from July. Online and retails sportsbooks accepted $108.4m in bets in August compared to $88.9m in July. During August, there were placed bets worth $3.5m daily, up from $2.9m per day during July.
However, according to Eric Ramsey, Analyst for PlayUSA (which includes PlayIA), this is only the start of what could be the busiest period of the year:
“Futures betting and a handful of college games are enough to move the needle. That’s how important football is to the sports betting industry. August is a precursor for what should be the busiest stretch of the year. Optimistic projections for the last four months put the state past $1.7bn in wagers for the year.”
Baseball was the main attraction in August until the return of college football gained the interest of all bettors, which explains the volume increase in wagers. September is expected to bring in greater gains, as a full college football schedule and the return of the NFL always brings a boom in sports betting.
Ramsey added: “A game that creates that kind of excitement is rare, sending fans on both sides pouring into the state’s online and retail sportsbooks. That made it a unique opportunity for the industry to reach college football fans all across Iowa, including those who have never placed a bet before.”
During the last summer month, William Hill led the online market with $34.8m in wagers, DraftKings followed with $29.9m in online bets, while Ameristar Council Bluffs topped the retail market with $3.6m in wagers; the numbers show huge differences between online and retail sports betting, proving most gamblers prefer digital wagering.