Iowa sports betting handle rises again in November

The monthly Iowa handle was higher than $247.5m in November 2022 and 13.5% ahead of $255.3m in October this year.

The total was also the most spent since a record $303.3m was wagered in January 2022, some 22 months ago.

Breaking this down, some $265.8m was spent betting with online operators and $23.9m at retail sportsbooks across Iowa.

As for revenue, operators generated a total of $14.1m in November. This was 143.1% higher than $5.8m last year, although the November 2022 figures were hit by multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

However, the November revenue figure in Iowa was 33.5% behind the $21.2m generated in October this year. This was due to consumers winning significantly more in November ($275.6m) compared to October ($225.3m).

Of the revenue total, $12.6m came from online betting and $1.5m from retail wagering.

Diamond Jo Dubuque retains the lead in Iowa

Diamond Jo Dubuque and partner FanDuel remained the market leaders in November. The partnership heralded $3.5m in revenue from $72.7m in total sports bets.

Wild Rose in Jefferson and DraftKings again claimed second place with $1.9m in revenue off a $45.5m handle. Sister property and another DraftKings partner, Wild Rose in Emmetsburg, took third with revenue of $1.6m and a $28.7m handle.

Rounding off the Wild Rose trio of DraftKings partners, Wild Rose in Clinton was just behind the Emmetsburg site. Revenue was marginally lower, but the venue took more bets posting a $33.7m handle.

Sports betting tax for the month of November in Iowa reached $954,195.