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 $245.7 million in wagers during the month of September.
The latest figures mark an increase of 74% compared to the previous month’s handle of $141.2 million and a 22.7% increase year-on-year. Mobile sports betting accounted for 90.47% of all wagers as online sports betting operators took in over $222.3 million in wagers.
This brings brings the year-to-date Iowa sports betting handle for 2023 to just over $1.59 billion.
According to the report, sportsbooks combined to generate just over $24 million in revenue from a win percentage of 9.79%. This was a 78.1% increase on August’s revenue figure. However, it was a decrease of 5.3% on September 2022’s figure of $25.4 million when operators reported a win percentage of 12.69%. So far in 2023, sportsbooks have generated $134.2 million in revenue.
DraftKings Leads the Pack
DraftKings led both the overall market and the mobile sports betting market once again with over $8.6 million in revenue from $92.7 million in wagers. The online sportsbook operator claimed a 41.7% of the market.
The retail sports betting market leader for the month of September was Diamond Jo Dubuque which reported revenues of just over $6 million from $52 million in wagers. Its nearest competitor Diamond Jo Worth reported $2.5 million in revenue from $21.7 million in wagers.
Taxes Top $1.6 million
September saw the state collect $1.6 million in taxes from sports wagering. This was the first time since May and only the fourth time in 2023 that state taxes broke the $1 million mark. This brings the year-to-date total to just over $9 million. Iowa has now collected over $34.2 million in taxes since sports betting first launched in August of 2019.
Historical Sports 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 |
| Totals | $1,592,748,467 | $1,446,871,075 | 91.12% | $134,255,991 | 8.48% | $9,006,029 |
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.