Iowa sports betting revenue recovers in December

The IRGC has reported that players wagered $229.9m on sports in December.

01/10/23

Sports betting revenue in Iowa grew 251.7 per cent month-on-month in December.

US.- The Iowa Racing and Gaming Commission has reported sports betting revenue of $20.4m for December. That’s a 251.7 per cent increase compared to Novemb er 2022 ($5.8m) and also a 52.2 per cent increase from December 2021. Of the total, $17.6m came from online sports betting and the remaining $3.1m from retail sportsbooks.

In November 2022, Iowa’s revenue suffered an abrupt fall due to heavy losses as the result of the 2022 World Series baseball. Operators paid out large amounts of winnings to businessman Jim ‘Mattress Mack’ McIngvale, who bet on the Houston Astros to win.

In terms of sports betting handle, the Iowa Racing and Gaming Commission reported that players wagered $229.9m, down 13.7 per cent year-on-year and also down 7.1 per cent compared to the $247.5m wagered in November 2022. Of the total handle, $206.9m was bet online and $23m at retail facilities.

Diamond Jo in Dubuque, which has a FanDuel sportsbook, retained its place at the front of the market with $5.2m in revenue from $34.1m in bets. Wild Rose in Jefferson, which has a DraftKings book, took $2.5m from a $34.1m handle. Diamond Jo in Worth, which also has a FanDuel sportsbook, followed with $2.3m in revenue from $26m in bets. The state took $1.4m in sports betting tax.