Iowa's September Sports Betting Handle Reaches New Heights
Iowa recorded a monthly sports betting handle of $245.8m in September, a 22.8% increase compared to the $200.2m spent in September 2022.
The monthly handle was also 74.1% higher than the $141.2m spent in August 2023. While $222.3m was wagered online, players' spending at retail sportsbooks across Iowa accounted for the remaining $23.4m.
In terms of revenue, sports wagering yielded $24.1m in September, a 5.1% decrease year-on-year but 78.5% higher than the $13.5m attained in August of this year. Online sports betting generated $20.9 million of the total revenue, while retail betting contributed $3.1 million.
FanDuel Maintains Lead
As for individual operators, Diamond Jo in Dubuque, in partnership with FanDuel, continues to maintain the lead in Iowa. They generated $6.0 million in revenue from $52.6 million in total wagers during September.
Wild Rose in Jefferson, in collaboration with DraftKings, followed closely with $3.4 million in revenue from a monthly sports betting handle of $42.0 million.
The Wild Rose in Clinton, also in partnership with DraftKings, secured third place with $2.8 million in revenue from $31.7m total wagers.
Another DraftKings partner, the Wild Rose in Emmetsburg, has $2.6m in revenue from $26.0m in bets. Lastly, Diamond Jo in Worth, which also has an agreement with DraftKings, reported $2.6m in revenue from $21.7m bets.
The government received a sports betting tax of $1.6m for August, and players' total winnings amounted to $221.7m.
Unregulated iGaming Market
While sports betting is legal in Iowa, real-money casino sites and internet poker are yet to be legalized. Earlier this year, a bill was introduced in the Iowa House of Representatives that would have seen the launch of a regulated iGaming market in the state. However, like other online gambling bills that existed before it, House Study Bill 227 didn't get enough support in the House and wasn't passed.