Iowa sports betting revenue hits $8.1m in November

Iowa’s sports betting market posted modest figures for the month of November.

According to the latest figures from the Iowa Racing and Gaming Commission (IRGC), sportsbooks in Iowa generated $8.1m in revenue in November.

November’s betting revenue marked a 125% year-on-year increase on the $3.6m generated this time last year, but an 11% drop on the $9.1m generated in October this year.

Online betting made up the lion share of revenue, accounting for $5.3m of the state’s total betting revenue in November while land-based betting bought in $2.7m in revenue.

Bettors in the state wagered $87.2m on sporting events in November, up from the $81.9m wagered the month prior. November’s handle also marked a significant increase on the $59.3m wagered this time last year.

The majority of handle came from online and mobile which made up $62.4m while land-based betting handle amounted to $24.8m.

How did each operator perform?

The William Hill sportsbook at Penn National Gaming’s Prairie Meadows Racetrack and Casino dominated the market after generating $1.8m in revenue from $19.2m in bets.

The FanDuel sportsbook at Diamond Jo in Worth processed $8.8m in sports bets and held onto just over $1m.

Penn National’s Ameristar II took third place in November after generating $879,256 in revenue from $5.3m in sports wagers.

The Diamond Jo venue in Dubuque processed $6.7m in sports bets and held onto $739,054.

Horseshoe Casino Council Bluffs managed to generate $570,651 in betting revenue from $2.5m 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.

At this moment in time, Iowans hoping to bet on sports online must register and create an account in person at one of the state’s casino sportsbooks.

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.

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