Iowa Sports Betting Reaches New Heights in November
LISTEN TO THIS ARTICLE:November saw a significant increase in sports betting in Iowa. Punters wagered a total of $289.7 million, a 17.1% rise from the previous year.
This figure represents the highest monthly total since January 2022. In comparison, November 2022’s handle was $247.5 million, showing a substantial growth from October’s $255.3 million. The total amount wagered in November was the highest since the record $303.3 million in January 2022, 22 months earlier.
A Closer Look at Betting in Iowa
A closer look at the numbers reveals that $265.8 million was wagered through online betting platforms, while $23.9 million was spent at retail sportsbooks. November was also a successful month for operators, who generated $14.1 million in revenue.
This revenue was significantly higher, by 143.1%, compared to the $5.8 million in the same month last year. However, it is important to remember that November 2022’s figures were significantly impacted by multi-million dollar winnings paid to the businessman Jim “Mattress Mack” McIngvale.
However, November’s revenue was 33.5% less than the $21.2 million generated in October. This decrease has been put down to players winning more in November, with winnings totaling $275.6 million compared to October’s $225.3 million. Of the total revenue, online betting contributed $12.6 million, and retail wagering added $1.5 million.
Iowa’s Top Operators and Tax Contributions
Diamond Jo Dubuque, in partnership with FanDuel, maintained its position as the market leader in November. The duo brought in $3.5 million in revenue from a total of $72.7 million in sports bets.
Following closely was Wild Rose in Jefferson, partnered with DraftKings, generating $1.9 million in revenue from a $45.5 million handle. Wild Rose in Emmetsburg, another DraftKings partner, ranked third with $1.6 million in revenue and a $28.7 million handle. Wild Rose in Clinton, although slightly behind Emmetsburg in revenue, saw a higher betting handle of $33.7 million. The state also benefited from sports betting, collecting $954,195 in taxes for November.
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