The latest revenue report from the Iowa Racing and Gaming Commission has revealed that the state’s licensed sports betting operators accepted $280.9 million in wagers during the month of October. This marks a 33.5% increase in sports betting activity since September as the return of the NFL sees sportsbooks set another monthly record for the second month in a row.
Mobile sports wagers accounted for 89% of the overall handle as online sports betting apps accepted $249.9 in bets throughout the month. This was an increase of 34% on the previous month’s total of $186.5 million. Meanwhile, the state’s retail sportsbooks took in $30.9 million, $7 million more than they reported receiving in September.
Mobile operators paid out $246.36 million while retail payouts amounted to $27.9 million for the month. Online net receipts totaled $3.5 million while retail net receipts came to just over $3 million. This resulted in combined net receipts of $6.5 million yielding the state taxes of $514,641.92. Despite a significant increase in sports betting activity for the month, this represented an increase of just 0.33% in taxes from the previous month.
The Isle Casino Hotel Waterloo retains its place as the market leader accepting $47.3 million in wagers throughout the month. Of this total, $46.9 million came through the casino’s online sportsbook. Diamond Jo Dubuque came second in the rankings with an overall sports betting handle of $39.4 million while the next of the list was the Wild Rose Jefferson with a handle of $35.4 million.
According to the report, the online sports betting market leader in Iowa was American Wagering Inc. who reported receiving $97 million in wagers through its mobile sports betting apps. Crown IA Gaming fell further behind its rival posting an online sports betting handle of $76.4 million for the month of October.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
