First Year Of Iowa Sports Betting With Remote Signup A Big Improvement

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Iowa sports betting

The first year of Iowa sports betting with remote registration led to record heights, including in January.

Iowa bettors wagered a record $303.3 million in January, according to a report from the Iowa Racing and Gaming Commission released Friday. The previous Iowa sports betting handle record was $287.2 million in November 2021.

The January 2022 handle is a sharp increase of 103% over January 2021, the first month without in-person registration requirements in Iowa.

Iowa sports betting revenue steady

Iowa sportsbooks generated $14.3 million in revenue, a 4.7% hold. It is the second-highest monthly revenue total for the state, trailing the $19.7 million from November 2021.

The January sports betting revenue is up 6.7% compared to December 2021’s $13.4 million, a 5% hold on the $266.5 million handle.

The state collected $964,525 in taxes.

Registration shackles off in Iowa

The in-person registration requirement in Iowa expired when 2020 turned to 2021. Sports betting handle jumped immediately, from $104.8 million in December 2020 to a then-record $149.5 million in January 2021, a 42.7% increase.

Fiscal year totals help show the full effect of allowing mobile registration.

Iowa bettors wagered $1.2 billion in fiscal year 2021, which ran through June 2021. Through the first seven months of fiscal year 2022, Iowa sportsbooks have handled more than $1.6 billion.

Iowa sportsbooks surged too

Multiple sportsbooks waited out the in-person registration requirement.

In December 2020, there were eight live operators. There are now 18 active sportsbooks in the state.

A similar situation could occur in Illinois sports betting, where an in-person registration rule is slated to expire next month.

Caesars still tops Iowa sports betting

Online sports betting in January totaled nearly $275.9 million, making up 90.9% of the overall handle.

William Hill established itself as a clear market leader in the Hawkeye State before Caesars acquired the sportsbook and relaunched the market in August 2021. Caesars kept that position, taking nearly $112.7 million in online bets in January, a 40.8% market share.

DraftKings and FanDuel were the only other operators with more than 10% online market share, at 25% and 16%, respectively. BetMGM was the fourth (and only other) operator to clear $10 million in handle, claiming 7.9% of the market.

SportsbookOnline HandleRevenueHoldMarket Share
Caesars$112.7 million$2.8 million2.5%40.8%
DraftKings$68.9 million$3.0 million4.4%25.0%
FanDuel$44.1 million$3.5 million7.9%16.0%
BetMGM$21.7 million$1.6 million7.4%7.9%
Barstool$9.2 million$297,4593.2%3.3%
PointsBet$5.8 million$503,4688.7%2.1%
BetRivers$5.0 million$115,8922.3%1.8%
Elite$2.6 million$104,2814.0%<1%
Betfred$1.3 million(-$42,327)<1%
Circa$1.2 million(-$34,572)<1%
Hard Rock$836,114$91,33410.9%<1%
Bally Bet$296,851$23,7328.0%<1%
Q Sportsbook$310,964$2,2950.7%<1%
DRF Bets$60,163(-$4,188)<1%