Iowa sports betting revenue and handle continues to grow in August

Iowa’s sports betting handle more than doubled in August.

According to the latest figures from the Iowa Racing and Gaming Commission (IRGC) Iowa’s sports betting revenue hit $3m in August, up 36.4% from the $2.2m generated in July.

Sports betting handle also grew in August after bettors in the state wagered $50.3m on sporting events, more than double the $22.9m wagered in July.

Online betting handle amounted to $35m while land-based betting handle hit $15.3m in August.

Online sportsbooks also generated the majority of the state’s revenue in August after operators generated $1.6m from betting online operations compared to the $1.4m generated from land-based sportsbooks.

Bettors in the state won a total of $47.4m from sports betting in August, which is made up of $33.4m from online and $15.3m from land-based operations. Sportsbook operators paid a total of $202,316 in taxes.

Breaking down the figures

Looking closer at the figures, Prairie Meadows, which is partnered with William Hill for sports betting, continued to lead the market in August after generating $692,929 in revenue from $14.2m in total bets.

Diamond Jo Worth Casino and its partner FanDuel, came in second place with $414,015 in revenue from $3m in wagers. Penn National Gaming’s Ameristar Casino Hotel Council Bluffs and DraftKings came in third place with $342,010 from $3.9m in sports bets.

The sportsbook at Horseshoe Casino Council Bluffs followed close behind after the sportsbook generated $193,321 in revenue from $1.9m in bets. Riverside Casino and Golf Resort came next after processing $3.7m in bets and holding onto $181,873 in revenue.

The Isle Casino Waterloo also generated $181,624 in sports betting revenue after bettors wagered $4.3m in bets.

Sports betting in Iowa

Governor Kim Reynolds signed Iowa’s betting bill into law in May 2019. With just 94 days between the signing of the bill and the launch of sports betting in the Hawkeye State, Iowa’s timeline to launch sports betting was one of the quickest in the US.

From 1 January 2021, bettors will be able to register online sportsbook accounts remotely from anywhere within the state, eliminating the inconvenience of having to travel to a casino. This is sure to be a positive development for both the state’s sportsbooks and consumers.

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