Iowa sports betting handle hits $238.7m in October
The Iowa Racing and Gaming Commission has reported a $238.7m sports betting handle for October.
US.- The Iowa Racing and Gaming Commission has reported a sports betting handle of $238.7m for October. That’s an increase of 16 per cent from September’s $200.2m but a drop of 15 per cent compared to October 2021’s $280.9m. Consumers spent $212.7m online and $26m at retail facilities.
Iowa’s sports betting revenue (both retail and online) fell by 24 per cent from the previous month to $19.4m. Online sports betting generated $16.4m in revenue and retail $2.7m. Sportsbooks kept 8 per cent of the wagers, breaking a three-month streak of double-digit hold rates and well down from September’s 12.6 per cent win rate.
Diamond Jo in Dubuque, partnered with FanDuel, posted $4.7m in revenue from $51.1m in player wagers. Diamond Jo in Worth, which also has a FanDuel sportsbook, followed with $3.1m in revenue and a $26m handle. Wild Rose in Jefferson with DraftKings reported revenue of $2.2m from $34.9m in bets.
The state’s 19 casinos and 19 mobile partners paid $1.29m in taxes compared to $1.7m in September.
