Iowa’s sports betting landscape experienced a substantial uptick in November, with a total handle of $289.7 million, representing a notable year-on-year surge of 17.1%. This figure also signifies a robust 13.5% increase from October 2023, when the handle stood at $255.3 million. The November total stands as the highest monthly amount recorded since the record-setting $303.3 million in January 2022. This surge in sports betting activity indicates a continued interest and engagement within the Iowa sports wagering market.
Online vs. Retail Betting:
Of the total handle, a significant $265.8 million was attributed to online sports betting platforms, underlining the continued dominance of digital wagering.
Retail sportsbooks contributed $23.9 million to the overall handle, indicating a preference for convenient online betting options.
Revenue Generation:
Operators in Iowa generated $14.1 million in revenue during November, marking an impressive year-on-year increase of 143.1%.
However, the revenue figure for November fell short of the October 2023 total, with a decrease of 33.5% from $21.2 million.
Online betting remained the primary revenue driver, accounting for $12.6 million, while retail wagering contributed $1.5 million.
Leading Operators and Revenue Figures:
Diamond Jo Dubuque, in partnership with FanDuel, reported substantial revenue of $3.5 million from a robust $72.7 million in sports bets.
Wild Rose in Jefferson, collaborating with DraftKings, followed closely with revenue of $1.9 million and a handle of $45.5 million.
Sister property Wild Rose in Emmetsburg, also a DraftKings partner, reported revenue of $1.6 million, coupled with a handle of $28.7 million.
Wild Rose in Clinton reported marginally lower revenue with a handle of $33.7 million.
The sports betting tax reached $954,195, contributing to the state’s revenue streams.
Operational Changes:
Hard Rock Hotel & Casino Sioux City in Iowa recently announced the cessation of its digital sportsbook operations due to a change in ownership. While the digital platform will no longer accept bets, the physical sportsbook at the casino will continue to provide in-person betting services.
The surge in Iowa’s sports betting activity in November underscores the resilience and popularity of sports wagering in the state. As the industry continues to evolve, online platforms remain pivotal in shaping the landscape, although the coexistence of retail options is evident. The diverse range of operators and their respective revenue figures reflect a dynamic and competitive market, contributing positively to Iowa’s gaming ecosystem.