Iowa sports betting hit a relative lull in December following three consecutive record monthly handles.
Iowa sportsbooks handled $266.5 million in bets during December, according to a report from the Iowa Racing and Gaming Commission. That is down from the record $287.2 million in November and October’s $280.9 million.
The month was Iowa’s third-highest handle ever, surpassing the $210.4 million in September. It is also up 154% from December 2020, when sportsbooks took $104.8 million.
Iowa sports betting revenue dips as well
Sportsbooks in Iowa generated $13.4 million in revenue, good for a 5% hold.
That figure is down 32.3% from November’s record $19.7 million in revenue. It was a 101.5% bump from October’s $6.6 million in revenue.
The state collected $957,637 in taxes, well below nearly $2.1 million in November.
IA sports betting still trending upward
Iowa sports bettors placed nearly $1.25 billion in bets during the first six months of the state’s 2022 fiscal year, which starts in July, according to the IRGC.
That is more than the $1.2 billion wagered in the entire 2021 fiscal year. Legal sports betting in Iowa started in August 2019 and the state has collected nearly $12.9 million in taxes since its launch.
Part of that rise can be attributed to the elimination of an in-person registration for online sports betting. That rule expired in Iowa at the end of 2020.
Caesars still dominates IA
Online made up 90.7% of the overall handle during December. Caesars Sportsbook continues to lead in market share in Iowa after inheriting the market in August 2021 following the William Hill acquisition. The sportsbook took $90.1 million in bets, or 37.3% of the market.
DraftKings Sportsbook handled $72.3 million in bets, or 29.9% of the market. FanDuel Sportsbook was third with $35.7 million, or 14.8% of the market.
BetMGM is the only other sportsbook clearing $10 million in handle, taking $17.2 million in bets.
| Sportsbook | Online Handle | Revenue | Hold | Market Share |
|---|---|---|---|---|
| Caesars Sportsbook | $90.1 million | $3.6 million | 4.0% | 37.2% |
| DraftKings Sportsbook | $72.3 million | $3.0 million | 4.1% | 29.9% |
| FanDuel Sportsbook | $35.7 million | $1.9 million | 5.3% | 14.8% |
| BetMGM Sportsbook | $17.2 million | $1.7 million | 9.9% | 7.1% |
| Barstool Sportsbook | $9.0 million | $556,008 | 6.2% | 3.7% |
| PointsBet | $5.1 million | $269,801 | 5.3% | 2.1% |
| BetRivers | $4.6 million | $359,630 | 7.8% | 1.9% |
| Elite Sportsbook | $2.4 million | $198,752 | 8.3% | 1.0% |
| Hard Rock | $1.1 million | $39,243 | 3.6% | <1% |
| theScore | $1.1 million | $60,919 | 5.5% | <1% |
| Circa Sports | $842,520 | $11,536 | 1.4% | <1% |
| Betfred | $731,537 | $82,345 | 11.3% | <1% |
| Q Sportsbook | $387,207 | — | — | <1% |
| Fubo Sportsbook | $376,215 | $53,833 | 14.3% | <1% |
| Unibet | $313,963 | $21,952 | 7.0% | <1% |
| Bally Bet | $244,264 | $22,830 | 9.3 | <1 |
| Betway | $190,217 | — | — | <1% |
