Iowa Operators Reap Remote Betting Registration Rewards

Iowa Operators Reap Remote Betting Registration Rewards

Iowa sports betting has been active since 2019 but remained restricted for a long due to in-person registration requirements. With remote registration for wagering now possible, operators are reaping the rewards of better engagement.

The benefits are visible since day one

Remote registration for sports betting began in the state on January 1, 2021. The benefits are visible in three weeks as major industry players launched their sports betting apps and helped increase revenue for operators. Iowa was one of the pioneers of sports betting in the US. It launched its wagering market in August 2019, almost a year after Supreme Court struck down PASPA. The act restricted sports betting in the US to Nevada for over 25 years.

Iowa Operators Reap Remote Betting Registration Rewards

The death of PASPA allowed other states to operate their own athletic wagering markets, decide regulations and create their own taxation rates. This freed up states to create their own new streams of revenue. However, Iowa laws restricted the activity with in-person registration only. This meant that everyone who wanted to place a bet in Iowa had o visit a land-based casino sportsbook in order to use an online app. This limited opportunities for out of state operators and also limited revenues for the state.

What are the benefits of remote registration?

VP of Racing at Prairie Meadows Casinos, Derron Heldt commented on the benefits of remote registration and said that it has helped the company receive great results in the first 15 days alone. The firm experienced a 70% increase in revenue on a yearly basis during this period, which amounted to $3 million.

PointsBet and BetMGM launched their mobile sports betting apps in the state soon after the restrictions were lifted. This also helped in bring more tax revenue for the state, which is suffering from the aftermath of the coronavirus pandemic. The state officials have acknowledged that the pandemic had a bad effect on the state’s gambling industry. They are also concerned about the competition from Nebraska as the neighboring states gears for a legal market. They also said that a change in casino taxes could be a subject of debate this year.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.