OKBet Update: NCAA Tournament Leads To Huge Increase In Iowa Sports Betting

OKBet Update: NCAA Tournament Leads To Huge Increase In Iowa Sports Betting

The fact that there were more possibilities this spring as COVID-19 mitigations subsided did nothing to curb Iowans’ desire to place wagers on the NCAA tournament.

In March, the state recorded $223.5 million in sports wagers, up 44% from March 2021 when COVID-19 immunizations were still scarce and indoor gatherings were often forbidden.

The growth coincides with another year in which residents of Iowa can register for mobile betting OKBet without first visiting a real casino.

Russ Mitchell, managing editor and primary writer for PlayIA, stated that “I think Iowans were still getting used to that concept back in March 2021.” “One element of the equation is the convenience. Additionally, I believe that gambling nowadays is more of a part of life, including sports betting OKBet.”

Belayers might have also been getting used to the new possibilities that are still being provided.

“Sportsbooks continue to improve their technology so that users may place live bets while a game is taking place, “added Mitchell. “The live betting market has grown significantly recently.

Overall, Iowans’ wagering during the month brought in $14.4 million for the house.

The NCAA men’s basketball tournament, which takes place in March, is undoubtedly one of the most watched betting events of the year. However, Iowans bet 8 percent more in March than they did in February, the month that hosts the year’s biggest betting extravaganza—the Super Bowl.

Only $25.2 million in bets were placed in retail locations, the vast bulk of which ($208.2 million) were made using mobile apps.

The company that runs OKBet Online Sports Betting, accepted the most wagers with a handle of $64.8 million, earning $2.7 million more than its wagerers.

In March, the state of Iowa collected $957,626.27 in taxes.

With both the University of Iowa and Iowa State in the field, Iowans had reason to be more interested in the NCAA tournament this year. The Cyclones had a shocking run to the Sweet 16 while the Hawkeyes were eliminated in the first round with a shocking loss.

$2.18 billion has been gambled on sports by Iowans in the first four months of 2022.

Because of the NCAA Tournament, Mitchell claimed that March is the most popular non-football betting month of the year. “Sports bets will gradually decrease from here, according to Iowa casinos and sports betting companies such as OKBet sports betting Online. That pattern is seasonal. August will see a slight increase in sports wagers, while September will see a significant increase thanks to the possibility of betting on football results.