Iowa Gamblers Bet Nearly $7 Million in May
According to the Cedar Rapids Gazette, "Sidelined for more than two months because of coronavirus concerns, Iowa gamblers are back in action."
Gamblers in Iowa risked $6.98 million in the month of May. The payout on those wagers was $6.4 million, leaving a profit of right around $501,000. It may seem like a big number, but it's really not.
In February of this year, the handle was about $56 million. Under normal circumstances, last month could have been as high as $65 million. But $7 million is better than nothing.
So, you're probably wondering, what are these folks gambling on?
NASCAR is back as is Ultimate Fighting and German soccer. I'm told people are even betting on table tennis. My uncle Joe once told me, "You know you have a gambling problem if you're betting on ping pong!"
Sports gambling in Iowa was legalized on August 15, 2019. Since then, Iowans have wagered $355.3 million on sporting events. Keep in mind, most of this came during the football and basketball season.
Football is the busiest part of the year for any sports book. It seems like everyone gambles on football at least a couple of times a season. A small wager on the Iowa game always makes things a little more interesting.
To read the full story from the Cedar Rapids Gazette, check out Tuesdays hard copy edition. The story is on the front page.
I gambled on sports for many years. In the end, I quit because I couldn't pick a winner. I tried everything, but I was a big loser.
I had a lot of fun over the years, but I wish I had some of that cash back!
[Source: The Cedar Rapids Gazette, Hard Copy]