In October, Iowa’s sports betting demonstrated continued growth, with a handle of $255.3 million, marking a 6.9% increase compared to October 2022 and a 3.9% uptick from September 2023 ($245.8 million). Online wagering accounted for $231.8 million, while retail sportsbooks saw $23.5 million in wagers. This surge in activity represents the highest monthly spend since the record-setting $303.3 million in January 2022.
Revenue and Tax Figures:
According to the Iowa Racing and Gaming Commission, sports betting revenue for October reached $24.2 million, reflecting a robust 26.7% year-on-year increase and a slight uptick from September. Online sports betting contributed $21.1 million to the total revenue, with retail wagering accounting for $3 million. The sports betting tax generated in October amounted to $1.6 million, with players winning a total of $225.3 million.
Top Performers in Iowa:
Leading the way in Iowa’s sports betting landscape, Diamond Jo Dubuque and its partner FanDuel reported revenue of $6.5 million, with a handle of $62.8 million. Following closely, Wild Rose in Jefferson, in collaboration with DraftKings, reported revenue of $3.6 million and a handle of $43.4 million. Another Wild Rose property, partnered with DraftKings in Clinton, secured the third position with $3 million in revenue from $32.3 million in bets. Wild Rose in Emmetsburg, also in collaboration with DraftKings, generated $2.9 million in revenue from a handle of $26.8 million.
The positive trajectory of Iowa’s sports betting handle in October underscores the sustained growth and popularity of sports wagering in the state. The robust figures reflect the increasing engagement of bettors, both online and at retail sportsbooks. As Iowa continues to be a vibrant hub for sports betting, the industry’s resilience and the competitive performance of key players contribute to the overall success of the market.