Iowa Sports Betting Handle Records All-Time High in October
The legal sports betting industry in Iowa is alive and well as the state set another new record for the month of October. Iowa is always one of the first states to report on the previous month of sports betting, and it typically sets the tone for the entire industry.
The total sports betting handle in October was $280.9 million, easily surpassing the previous record that was set in September. September saw a huge jump in action for Iowa sportsbooks, but that handle was only $210.4 million, or 33.5 percent of what was brought in last month.
Taking a look at the year-to-year report shows an even better picture of how much the industry has grown as the total handle increased by 243 percent. Iowa has benefitted from no more in-person registration in 2021 and the start of the NFL football season.
Not only did the total sports betting handle increase in October, but the total revenue was up to nearly $6.6 million as well. That jump in total revenue amounted to a 14.7 percent increase from the $5.7 million in September.
Iowa is still seeing a very small amount of tax revenue from the industry, but that figure continues to climb as well. The Hawkeye State is the first to announce a record-breaking month in October, but it likely won’t be the last.
Isle Casino Leading the Way
When it comes to which casino has taken the lead in Iowa that title would belong to the Isle Casino Hotel Waterloo. That casino had a total handle of $47.3 million and Caesars is the official sports betting partner of that location.
FanDuel Sportsbook has formed a partnership with the Diamond Jo Casino properties in the state. The Diamond Jo located in Dubuque came in second for the month of October with a total handle of $39.4 million.
The partnership of DraftKings Sportsbook and the Wild Rose Casino came in third on the list with a total sports betting handle of $35.4 million. These three properties accounted for more than $122 million of the total betting handle for the month.
Fubo Sportsbook is Now Live
The final casino in the state of Iowa to offer sports betting was the Casino Queen, but that run ended right at the beginning of November. The Casino Queen has partnered with Fubo Sportsbook and that is now live and open for business.
Fubo Gaming is the parent company of the new sportsbook and it will integrate the sportsbook app into its live TV streaming service. This sportsbook is not expected to become one of the biggest in the state, but it will give bettors another option.
College basketball is set to begin in the month of November, and all signs point to Iowa setting another new record this month as well.