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.