Iowa sets new benchmark with $281m betting handle for October
- By: Staff Writer
- November 7, 2021
- LikeUnlikeLike
- 693 Views
Iowa sportsbooks had another record-breaking month in October as operators handled $280.9 million in wagers.
The betting handle for the month was up by more than $70 million from the $210.4 million reported in September, indicating an increase of 33.5% month-on-month. The figure also shows a massive jump of 243% year-on-year when compared to the $81.9 million staked in October 2020.
Of the total amount wagered, Iowa betting operators held $6.6 million, up 14.7% from the previous month’s $5.7 million revenue. When compared to the $9.1 million won in October 2020, however, last month’s revenue was down by 27.8% year-on-year. The vertical generated $514,642 million in tax revenue for the state in the month, a slight increase of 0.3% from the $512,951 collected in September.
“We’re right in the thick of things right now in terms of the busiest time for sports operators. We’re not really sure where the numbers will settle,” said Brian Ohorilko, Administrator of the Iowa Racing and Gaming Commission.
“It’s always possible that we could continue to see growth this fall and into the winter.”
October was the first full month of football betting. Operators also saw an increase in wagers placed on other markets as the NBA schedule and 2021 MLB post-season kicked off in the month, and the trend is expected to continue in the coming months as the sports calendar becomes busier.
Online sportsbooks account for 89% of action
The report by the IRGC shows that $249.9 million of the betting handle posted by Iowa sportsbooks in October came from mobile bettors. The figure, which accounts for 89% of the total amount staked by Iowans in the month, was 34% higher than September’s $186.5 million internet handle.
The total amount paid out to players in winnings was $246.4, leaving online operators with $3.5 million in net revenue.
There were 15 operational sportsbook apps in the state’s market in October.
Moving on to retail, the combined betting handle reported by land-based sportsbooks was $31.0 million, up 29.7% from September’s $23.9 million. Retail revenue, however, fell by 28.6% month-on-month, as the figures dropped from $4.2 million in September to $3.0 million in October.
Who topped the Iowa market in October?
When it comes to individual performance, Caesars, formerly known as William Hill, had the highest online handle in the state at $97 million. The amount paid out by the operator, however, was higher than the volume of wagers handled, leaving the sportsbook with net receipts of -$1,578,600.
DraftKings Sportsbook reported the second highest internet handle at $76.4 million, and the operator’s revenue for the month was $1.4 million. The third spot went to FanDuel, which reported $38.1 million in mobile handle and $2.1 million in sports betting revenue.
MGM Resorts and Entain’s BetMGM app also had a great month as its handle increased from $12.3 million in September to $18.3 million in October. The operator’s hold for the month was $404,014, a slight decrease from September’s $488,294.
Here is how the rest of Iowa’s online licensees performed in terms of online handle:
- PointsBet – $5.99 million
- BetRivers – $3.75 million
- Elite Sportsbook – $3.32 million
- TheScore Bet – $2.08 million
- Betfred Sportbook – $1.42 million
- Hard Rock – $1.22 million
- Unibet – $0.96 million
- Bally Bet – $0.65 million
- Q Sportsbook – $0.33 million
- Circa Sports – $0.26 million
- Fubo Sportsbook – $0.026 million
You may also like
Join the Betting Planet team!
Are you passionate about sports betting? Sports news writers required TODAY!
Experienced preferred but not essential. (All apps considered).
View Careers at Race MediaTop Online Casinos
Latest Betting News
- Las Vegas Grand Prix 2024 betting preview & free predictions | F1
- EPL Matchweek 12 betting picks & odds | Premier League 2024-25
- La Liga betting tips, prop picks & best odds | Matchday 14
- Australia v India: Visitors drop selection hint for Perth Test
- Yan v Figueiredo betting picks & odds | UFC Fight Night preview
- Steelers @ Browns NFL Thursday preview & top picks | Week 12
- Texans @ Cowboys NFL Monday preview & free picks | Week 11
- ATP Finals 2024: De Minaur bombs out as Fritz reaches semis
- NFL Week 11 Sunday preview & betting picks | November 17, 2024
- UFC 309 main card preview & free betting picks | Nov 16, 2024
Casino Guides
- Safest online casino jurisdictions
- How to guides
- How to win at pokies
- How to play online pokies
- PaysafeCard online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- 32Red Casino Review
- All Slots Casino Review
- Boombet Casino review
- Horse racing games at casinos
- Credit card deposits at online casinos
- Films about blackjack
- Live dealer casinos
- How to play live dealer blackjack party
- Online Blackjack
- Top online casinos 2024
- Online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- PaysafeCard online casino deposits
- Online slots
- Playing Pai Gow Poker on the Internet
- Online keno
- Online poker
- Online poker tournament structures
- Real money online roulette 2024
- Online multi-wheel roulette – what is it?
- How to play online scratch cards in 2024
- Sit & Go online poker tournaments
- Skrill e-wallet deposits at online casinos
- Visa online casino deposits
Sports Betting Guides
Casino Games
Deposits & Withdrawals
Football
Basketball
Top Country Betting sites
- Angola
- Antigua and Barbuda
- Armenia
- Australia
- Azerbaijan
- Bahamas
- Barbados
- Belize
- Brazil
- Canada
- Dominican Republic
- Germany
- Ghana
- Grenada
- India
- Indonesia
- Italy
- Kenya
- Malaysia
- Malta
- Ireland
- Netherlands
- New Zealand
- Nigeria
- Norway
- Philippines
- Singapore
- South Africa
- Turkey
- Uganda
- Ukraine
- United Kingdom
- Vietnam
- Zambia
- Zimbabwe