- Iowa sports betting saw a revenue drop of 10.5% from October to November.
- The sports betting handle was actually higher in November.
- Mobile and online betting were the primary sources for sports betting activity.
DES MOINES, Iowa – Sports betting revenue in Iowa for November was down from the October numbers.
Although total revenue received was down, sports betting activity was actually higher, with a larger betting handle than in October.
Iowa seeing an increase in betting handle, yet a decrease in sports betting revenue shows that many sports bettors in Iowa won their respective wagers in the month.
Sports betting in Iowa was dominated by more and online betting in November, with over 70% of total wagers coming from mobile betting apps.
Iowa bettors wagered $314,642,872.53 in November with $204,762,327.74 coming from internet wagers. The Hawkeye State had 18 locations operating in November and online still remained the primary betting source for locals.
The Prairie Meadows Racetrack & Casino had the most betting activity in the month, with over $78.7 million wagered at the sportsbook. A total of $73 million of those wagers came from the mobile betting app and $5.4 million came from wagers at the retail location.
The drastic difference in online wagers versus physical wagers at retail books could be attributed to the COVID-19 pandemic having most sports bettors feeling more comfortable wagering at home.
In terms of the state’s overall tax revenue, Iowa took in $1,865,755.55. While this is down from the October revenue numbers, sports betting in Iowa is still a thriving market.
With the NFL and NBA season on going, and collegiate sports like college football and college basketball in full swing, the numbers are only expected to remain high to the New Year.
With sports betting, there will be months where sports bettors win more than they lose. Iowa still managed to turn over $1.8 million in profit that is added to the state’s overall coffers.
The retail numbers may remain lagging behind the internet and mobile sportsbooks as the country attempts to recover from the global pandemic. Online wagers are quick and convenient and allow sports bettors all over Iowa to partake in legal sports betting.
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Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.