The Iowa Racing and Gaming Commission has released its latest monthly revenue report revealing that the state’s licensed sports betting operators took in over $282.7 million in wagers during the month of December.
The latest figures mark a drop of 2.3% compared to the previous month’s handle of $289.6 million and a 22.9% increase year-on-year. This was the fourth highest total wagering amount in a single month in the state and brings the total sports betting handle for 2023 to $2.4 billion, an increase of 4.3% compared to 2022.
Mobile sports betting accounted for 91.35% of all wagers as online sportsbooks accepted over $258.2million in wagers.
Despite reporting a decline in wagers month-over-month, sportsbooks combined to generate $26.2 million in revenue from a win percentage of 9.28%. This is the highest revenue total in a single month since sports betting in Iowa launched in August 2019. The previous record was $25.4 million set in September 2022.
The total revenue generated in 2023 was $198.7 million, a 20% increase on the $165.5 million generated in 2022.
DraftKings the Outright Leader
DraftKings is once again the market leader for both the overall market and the mobile sports betting market with over $9.9 million in revenue from $101.9 million in wagers. Just over 36% of all wagers were placed through DraftKings mobile and retail sportsbooks.
The retail sports betting market leader for the month of December was once again Diamond Jo Worth which reported revenues of just over $572,977 from $6.6 million in wagers.
Record Taxes for 2023
December saw the state collect $1.77 millionin taxes from sports wagering. This was the second highest tax haul in state history but still fell someway short of the $2 million record set in November 2021. This brings the total sports wagering taxes collected in 2023 to £13.3 million, an 8.13% increase on 2022’s total of $12.3 million.
2023 Sports Betting Handle, Revenues & Taxes in Iowa
| Period | Total Handle | Mobile Handle | Mobile Handle % | Sportsbook Revenue | Win % | State Taxes |
|---|---|---|---|---|---|---|
| Jan 2023 | $233,619,612 | $207,674,196 | 88.89% | $16,543,361 | 7.08% | $1,081,365 |
| Feb 2023 | $193,879,638 | $176,196,513 | 90.88% | $11,871,156 | 6.12% | $789,626 |
| Mar 2023 | $232,614,150 | $208,995,594 | 89.85% | $19,857,210 | 8.54% | $1,296,262 |
| Apr 2023 | $172,589,394 | $157,530,402 | 91.27% | $14,117,868 | 8.18% | $958,605 |
| May 2023 | $147,715,126 | $135,181,455 | 91.51% | $16,599,871 | 11.24% | $1,060,059 |
| Jun 2023 | $115,595,593 | $105,728,089 | 91.46% | $7,131,173 | 6.17% | $570,976 |
| Jul 2023 | $109,680,895 | $101,297,786 | 92.36% | $10,568,989 | 9.64% | $713,772 |
| Aug 2023 | $141,295,039 | $131,920,797 | 93.37% | $13,507,280 | 9.56% | $911,670 |
| Sep 2023 | $245,759,020 | $222,346,243 | 90.47% | $24,059,083 | 9.79% | $1,623,694 |
| Oct 2023 | $255,293,522 | $231,789,985 | 90.79% | $24,189,825 | 9.48% | $1,636,357 |
| Nov 2023 | $289,698,466 | $265,806,185 | 91.75% | $14,090,776 | 4.86% | $954,195 |
| Dec 2023 | $282,723,929 | $258,285,940 | 91.35% | $26,251,212 | 9.28% | $1,770,658 |
| Totals | $2,420,464,384 | $2,202,753,185 | 91.16% | $198,787,804 | 8.33% | $13,367,239 |
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An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.