Iowa Sports Betting Operators Can Now Offer 3 Skins
Published March 9, 2021 by Elana K
Iowa casinos will now be allowed to offer a third sports betting skin, or brand, effectively expanding the options for sports betting enthusiasts in the state.
Iowa casinos will now be allowed to offer a third sports betting skin, or brand, effectively expanding the options for sports betting enthusiasts in the state. Until now, state casinos have been allowed to operate up to two skins, but the Administrative Rules Review Committee approved the expansion to three last week. Adding a third skin will open up an additional stream of revenue for casinos and help them cover the $45,000 sportsbook licensing fee.
In-Person Registration No Longer Required
Sports betting was legalized in Iowa in August 2019 and currently has 11 licensed sports betting companies. The addition of skins isn’t the first change to the original framework. Prior to January 2021, in-person registration was required before being able to place online or mobile bets. In January, this requirement was removed, making it much easier for betters to place wagers online.
The results were clear: a handle of $149.5 million in January 2021, up 42.7% from December 2020’s handle of $104.8 million. While February’s total isn’t in yet, the Iowa Gaming Association reported that more than $16.3 million was wagered in Iowa on the Super Bowl alone, which may result in an even higher monthly total for February.
For now, Iowa seems to be making changes that will lead to an even more successful sports betting industry. It certainly showcases how doing away with in-person registration can help operators achieve higher revenues.
