The Iowa Racing and Gaming Commission recently reported sports betting handle of $50.3 million in August, more than double the $22.8 million raised in July. It was the fifth highest total since sports wagering debuted in Iowa in August 2019, and more in keeping with monthly totals of $55 million-plus posted from November 2019 to February 2020, prior to the two-month shutdown of the state’s 19 casinos due to Covid-19. Handle dropped below $1.6 million in April at the peak of pandemic impacts.
Numbers are expected to rise next year as in-person registration for a mobile sports betting account ends on December 31.
The casinos produced sports betting revenue of slightly more than $3 million, resulting in a hold of 5.97 percent in August–well below July’s hold of 9.82 percent. However, the significant rise in handle contributed to a 33.9 percent increase from July’s gross gaming revenue of more than $2.2 million. Iowa collected $202,316 in tax revenue in August, and has taken in more than $2 million sports betting began.
Mobile sports wagering totaled slightly less than $35 million, or 69.55 percent of handle. Previously there hasn’t been a month where the IRGC reported a handle with at least 70 percent generated by mobile bets.
Most retail sports bets were placed at Ameristar in Council Bluffs, generating handle of $3.9 million. Diamond Jo Worth Casino in Northwood came in second with $3 million and Horseshoe Casino in Council Bluffs ranked third at $1.9 million.
Currently 15 of Iowa’s 19 casinos with sports wagering licenses offer digital platforms. William Hill’s four locations led the state in mobile/online wagering, accounting for more than $20.4 million. Prairie Meadows took in $13.3 million in online wagers, producing $47,000 in overall sports betting tax revenue. William Hill also recently added Horseshoe Casino to its Iowa portfolio and plans to launch mobile operations there soon.
Observers expect September’s sports betting revenue report to set a new record in overall and mobile handle, with the addition of the state’s seventh mobile operator, FanDuel, which runs sports wagering at Diamond Jo casinos in Worth and Dubuque.
FanDuel Sportsbook at Diamond Jo experienced an increase in sports wagers from $267,000 in July to $743,000 in August.
