Online Betting Leads in Iowa Record November Revenue
The state of Iowa recorded a revenue of $290m in bets last month with $250.4m, 90.6% percent of the total bets coming from online platforms.
Other sources that added to Iowa's strong showing in November include Iowa's online and retail sportsbooks, which generated $287.2m in wagers in November, up 229.5 percent from $87.2m in November 2020.
According to official data, November's revenue was up 2.3 percent from the record $280.9m total bets in October, a month boosted by five weekends of football.
In the last month, bettors in the state averaged $9.6m per day during the 30 days of the month, higher than October's $9.1m per day.
Also, revenue rose 142.5 percent to $19.7m in November, compared to the $8.1m in the same period last year, and witnessed a steep incline compared to the previous month, rising 201.2 percent from $6.6m.
The highest market toppers include Caesars, with $104m in wagers and $4.7 in net receipts. DraftKings was second with $75.1m in online bets and $4.2 in revenue. Newly launched Barstool Sports was in third place with $9.7m in bets and $770,576 in revenue.
In the retail aspect, Diamond Jo Worth is the market leader with $6.7m in bets, generating $2.3m in revenue, with Ameristar Council Bluffs coming second with $5.6m in wagers, leading to $1.8m in net receipts.
The expansion in betting in Iowa over the last three months has set a new floor for the industry. Operators have used the popularity of football to not only attract new customers but also to expose existing bettors to more diverse forms of betting. The growth this fall will benefit state sportsbooks for the months and years to come.