Why Iowa Could Become a Betting and Gambling Hub
Iowa is not the first state that you picture when you think of US gambling hubs. It’s all about Nevada and New Jersey, the home of Las Vegas, Reno, and Atlantic City. But while Iowa likely won’t topple The Sagebrush State anytime soon, it’s somewhat of a sleeping giant, with its casinos, sportsbooks, and sites like playia.com all helping to change its fortunes.
Here are some of the reasons why Iowa needs to be mentioned in the legal gambling conversation.
It Got There Before Its Neighbors
Iowa accepted its first legal sportsbook bets in 2019, getting the jump on its Midwest neighbors. In the ever-changing legal landscape of the United States, this is hugely important.
As evidenced by Las Vegas and Atlantic City, Americans are willing to travel far and wide if it means they can place a few legal sports bets. If Iowa is the only state nearby that offers what you need, then that’s where you’ll go.
Sooner or later, most states in the US will legalize sports betting, and we’ll probably see the same thing happen with online casino gambling. But the states that got there first will be the ones who benefit the most, and that puts the Hawkeye State near the top of the list.
You Don’t Need to Be In a Casino to Bet
In many European nations, as well as countries like Canada, Australia, and New Zealand, you can join a sportsbook from the comfort of your own home and wager at will. It means that you can settle down for some Sunday afternoon football without needing to visit your local casino first.
When Iowa first introduced its law changes, it required all residents to visit an actual casino, something that is also required in many other states. But that soon changed. As things stand, Iowans can place bets in their own homes directly through their mobile devices. They can register, deposit and wager from home and never need to set foot inside a casino.
There are still limits, of course, and it hasn’t quite followed in the footsteps of Canada, the UK, and Australia, but it’s getting there.
The Industry is Worth Over $2 Billion
Iowa sports betting surpassed $2 billion in 2021, over 2.5x the revenue that it generated in the previous year. This increase is attributed to the fact that Iowans could bet from home and not just from casinos, and it gave us some insights into just how hungry Iowa residents are for sports wagers.
That $2 billion covers the total amount wagered, and not the profits, but it means that huge sums of money are being pumped into the industry and that will help with its growth.
Casinos can use it to invest in new technology, new casinos, and new opportunities. It’ll also provide a boost to the local job market, one that took a hit during the pandemic.
After all, we’re talking about the sum of between $8 and $10 million being transacted and taxed every single day—that can do amazing things for a state’s economy.
