Iowa Sports Betting Slows After Three Consecutive Record Months

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Iowa sports betting

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.

SportsbookOnline HandleRevenueHoldMarket Share
Caesars Sportsbook$90.1 million$3.6 million4.0%37.2%
DraftKings Sportsbook$72.3 million$3.0 million4.1%29.9%
FanDuel Sportsbook$35.7 million$1.9 million5.3%14.8%
BetMGM Sportsbook$17.2 million$1.7 million9.9%7.1%
Barstool Sportsbook$9.0 million$556,0086.2%3.7%
PointsBet$5.1 million$269,8015.3%2.1%
BetRivers$4.6 million$359,6307.8%1.9%
Elite Sportsbook$2.4 million$198,7528.3%1.0%
Hard Rock$1.1 million$39,2433.6%<1%
theScore$1.1 million$60,9195.5%<1%
Circa Sports$842,520$11,5361.4%<1%
Q Sportsbook$387,207<1%
Fubo Sportsbook$376,215$53,83314.3%<1%
Bally Bet$244,264$22,8309.3<1