Iowa's September Sports Betting Handle Reaches New Heights
LISTEN TO THIS ARTICLE:Iowa recorded a monthly sports betting handle of $245.8m in September, a 22.8% increase compared to the $200.2m spent in September 2022.
The monthly handle was also 74.1% higher than the $141.2m spent in August 2023. While $222.3m was wagered online, players' spending at retail sportsbooks across Iowa accounted for the remaining $23.4m.
In terms of revenue, sports wagering yielded $24.1m in September, a 5.1% decrease year-on-year but 78.5% higher than the $13.5m attained in August of this year. Online sports betting generated $20.9 million of the total revenue, while retail betting contributed $3.1 million.
Related: Iowa State QB Dekkers and Two Others in Gambling Plea Deal
FanDuel Maintains Lead
As for individual operators, Diamond Jo in Dubuque, in partnership with FanDuel, continues to maintain the lead in Iowa. They generated $6.0 million in revenue from $52.6 million in total wagers during September.
Wild Rose in Jefferson, in collaboration with DraftKings, followed closely with $3.4 million in revenue from a monthly sports betting handle of $42.0 million.
The Wild Rose in Clinton, also in partnership with DraftKings, secured third place with $2.8 million in revenue from $31.7m total wagers.
Another DraftKings partner, the Wild Rose in Emmetsburg, has $2.6m in revenue from $26.0m in bets. Lastly, Diamond Jo in Worth, which also has an agreement with DraftKings, reported $2.6m in revenue from $21.7m bets.
The government received a sports betting tax of $1.6m for August, and players' total winnings amounted to $221.7m.
Unregulated iGaming Market
While sports betting is legal in Iowa, real-money casino sites and internet poker are yet to be legalized. Earlier this year, a bill was introduced in the Iowa House of Representatives that would have seen the launch of a regulated iGaming market in the state. However, like other online gambling bills that existed before it, House Study Bill 227 didn't get enough support in the House and wasn't passed.
More Finance News
RELATED TOPICS: Finance
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Iowa's September Sports Betting Handle Reaches New Heights