Iowa nets nearly $335K in sports betting tax revenue for September

In this Nov. 20, 2018, photo a customer makes a sports bet at Resorts Casino in Atlantic City, N.J. Professional sports leagues that once vehemently fought sports betting are now partnering with gambling companies to get in on it now that it’s legal. (AP Photo/Wayne Parry)

by: Eric Mayer

Posted: Oct 15, 2019 / 12:55 PM CDT

Updated: Oct 15, 2019 / 12:55 PM CDT

LARCHWOOD, Iowa (KELO) — The state of Iowa earned nearly $335,000 in state tax revenue through legalized sports betting in the month of September.

September was the first full month the state has had legalized betting, after first going into action Aug. 15. The August report showed nearly $146,000 of tax revenue.

In total, Iowa sportsbooks handled $38.5 million in total sports bets, paying out a total of $33.5 in winnings, while 15 casinos netted $4.9 million.

Grand Falls Casino Resort, located just east of Sioux Falls, handled $1.1 million in total bets, paying out $955,530.37 and netting $190,446.99. The Larchwood-based casino recorded $12,854.56 in state tax.

Des Moines casino Prairie Meadwos Racetrack & Casino posted the highest numbers. A total of $14.5 million of total bets were handled with $13 million paid out, $1.4 million netted and $99,477.66 in sales tax recorded.

KELOLAND’s Sarah McDonald is going to Grand Falls Casino to talk with officials and gamblers about the latest report. Stay with KELOLAND News for more coverage on-air and online.