Iowa sports betting handle dips to $144m in February

Iowa’s sportsbooks recorded a slight dip in sports betting handle in February following the record handle set in January.

The latest figures from the Iowa Racing and Gaming Commission (IRGC) show that sportsbooks in the state of Iowa took $144m in bets in February.

February’s handle marked a slight dip on the record $149.5m that was wagered in January.

The state’s online sportsbooks accounted for 87.2% of the state’s sports betting handle in February.

Sportsbook operators in the Hawkeye State managed to generate $7.7m in revenue in February, down from the $11.3m generated the month prior.

Operators also paid $520,444 in tax revenue to the state of Iowa.

February marks the second month since Iowa’s in-person registration requirement for online sports betting ended, which has, in turn, led to two strong months to start 2021.

How did each operator perform

According to the state report, the Isle Casino Hotel Waterloo, which is partnered with William Hill for sports betting, took $21.8m in bets, the highest handle of any Iowa casino. However, the venue generated just $249,888 in sports betting revenue.

William Hill, which is partnered with Prairie Meadows Racetrack & Casino, Lakeside Casino, Isle Casino Waterloo and Isle Casino Bettendorf, processed a total of $50m in sports wagers in February.

The Prairie Meadows Racetrack & Casino generated $1.4m in revenue making it the highest performing sportsbook in the state but took $15.9m in bets.

Diamond Jo Dubuque, which is partnered with FanDuel and BetMGM for sports betting, took a total of $21.4m in bets and held onto $988,498 in revenue. Online sports betting accounted for the majority of the licensee’s handle after bettors wagered $20.8m via the online sports betting apps.

Wild Rose Jefferson, which hosts the DraftKings sports betting product, took $19m in bets and held onto $852,711.

Meanwhile, Elite, which is partnered with Riverside Casino & Golf Resort, Rhythm City Casino in Davenport and Grand Falls Casino in Larchwood, processed $6m in bets.

PointsBet and theScore both took more than $5m in sports wagers in February. TheScore launched in Iowa in the middle of February.

Sports betting in Iowa

Sports betting went live in Iowa in August 2019 with a law that forced bettors in the state to create and register their online betting accounts in-person at one of the state’s casino sportsbooks.

This registration requirement ended on 1 January 2021, paving the way for bettors to create sports wagering accounts remotely from anywhere within the state. It also means that online-only operators can enter the state, providing bettors with a wider selection of betting options.

With February’s figures, Iowa is now the seventh state to surpass $1bn in sports betting handle following the repeal of the Professional and Amateur Sports Protection Act in 2018.

Since Iowa launched sports betting in August, sportsbooks have generated $79.96m in revenue and paid $5.45m in tax revenue.

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