“Mattress Mack” payouts mean Iowa betting revenue plummets in November
| By Robert Fletcher
Sports betting revenue in Iowa fell 70.9% year-on-year in November as two operators posted extremely large losses following multi-million-dollar winning bet payouts to US businessman Jim "Mattress Mack" McIngvale.
Revenue for the month amounted to $5.8m (£4.7m/€5.5m), down from $19.9m in November 2021 and also 69.6% lower than $19.1m in October this year.
According to the Iowa Racing and Gaming Commission (IRGC), $3.9m of this total came from online sports betting, while the remaining $1.9m was generated at retail sportsbooks across the state.