The state of Iowa has managed to set new records for sports betting handle and revenue in November.
According to the latest figures from the Iowa Racing and Gaming Commission (IRGC), bettors in the state wagered a record $287.2m on sporting events in November.
For the month of November, Iowa bettors wagered $260.4m via online and mobile sportsbooks while $26.9m was wagered in-person at casino sportsbooks in the state.
November’s betting handle represents a 230% year-on-year increase on the $87.2m wagered this time last year as well as a 2% month-on-month increase on the $280.9m wagered in October, setting a new record for the Hawkeye State.
Iowa’s sports betting revenue also hit a new record in November, with sportsbooks generating $19.7m in revenue for the month. The state of Iowa’s previous revenue record came in March 2021, when operators generated $13.5m in bets.
November’s revenue was up 143% year-on-year from the $8.1m generated in November last year. Revenue for the month also saw a 201% increase on the $6.6m wagered in October 2021.
Iowa’s sportsbooks paid just over $2m in tax revenue to the state of Iowa.
How the online sportsbooks performed
Caesars, formerly known as William Hill, was the most popular betting app in October with bettors spending $104m via the mobile sportsbooks. This in turn led to the operator generating $4.7m in revenue.
DraftKings took the second spot in November, with the operator taking $75.1m in bets and generating just over $4m in betting revenue.
The FanDuel sportsbook took third place for the month after generating $4.2m in revenue from $32.7m in sports bets for the month.
BetMGM, the joint venture between MGM Resorts and Entain, came in fourth place with $19.5m in wagers and $1.7m in revenue. Penn National
Penn National Gaming’s Barstool Sportsbook rounded out the list of top five operators with just under $10m in bets and $770,576 in revenue.
What about the land-based market?
Iowa’s land-based casino sportsbooks managed to generate a combined revenue of $2.9m from $26.9m in wagers.
The Diamond Jo Worth casino dominated the land-based betting market after generating $2.3m in revenue from $6.7m in bets.
Ameristar Council Bluffs was second with $5.6m in wagers and $1.8m in revenue.
Sports betting in Iowa
Iowa launched sports betting in August 2019, however, the state law required bettors to register their online sportsbook accounts in person at one of the state’s land-based casinos.
The in-person registration requirement came to an end on 1 January 2021, allowing bettors to register online betting accounts from anywhere within the state and allowing online-only operators to enter the state.
In October, Fubo and Barstool launched their mobile sportsbooks in the state of Iowa. With the launch of Fubo and Barstool, bettors in the Hawkeye State now have 18 legal and regulated sportsbook platforms to choose from.