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

Written By Pat Evans on February 14, 2022
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%
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Pat Evans

Pat Evans is a Grand Rapids, Michigan-based reporter covering sports business. Evans previously worked at Front Office Sports and the Grand Rapids Business Journal. He has authored two books: Grand Rapids Beer and Nevada Beer.

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