Home > Sports betting > Iowa sports betting revenue up 60.8% in October

Iowa sports betting revenue up 60.8% in October

| By Robin Harrison
The Iowa Racing and Gaming Commission revealed that sports betting revenue rose 60.8% year-on-year in October, aided by strong growth in online handle for the month.
Iowa gaming revenue suffers monthly decrease

The Iowa Racing and Gaming Commission revealed that sports betting revenue rose 60.8% year-on-year in October, aided by strong growth in online handle for the month. 

Amounts wagered in the state grew 76.1% to $81.9m from October 2019 – the third month of legal wagering in Iowa – thanks to growth in online stakes. This broke the monthly record for amounts wagered, set in September this year. 

While retail handle was up 21.6% from the prior year at $25.0m, amounts wagered online more than doubled year-on-year to $56.9m, which also represented a 13.7% improvement on September 2020’s total. 

After payouts of $72.8m across both channels, this left revenue of $9.1m, which broke down to $2.7m from retail wagering (down 9.8%), and $6.4m from online (up 140.2%). 

In terms of operators’ market share, William Hill’s sportsbook at Penn National’s Prairie Meadows Racetrack & Casino led the market in terms of handle and revenue. Customers wagered $19.8m at the property and via its app (with $18.4m staked online), for revenue of $2.3m. 

Read the full story on iGB North America.

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