Despite turnover remaining steady at the end of last year, Iowa’s licensed sportsbooks saw a sharp fall in revenues.
iGaming Business and Ficom Leisure are delighted to present the Iowa iGaming Dashboard, providing a monthly breakdown of the latest figures from the Hawkeye State’s regulated gambling market.
The data will be updated monthly following the official release of figures from the Iowa Racing and Gaming Commission.
While online handle was relatively stable between November and December at $33.7m and $33.5m, respectively – though a substantial increase from October’s $25.9m – a successful last month of the year for punters saw just $1.8m of this remain with bookies as revenue.
Interestingly, however, this was the first month since the state’s regulated market launched in August when online revenues were ahead of land-based revenues, with the latter falling to just $1.0m in December. On a turnover basis, online has been ahead of retail since September.
So far, it has been largely William Hill that has been benefited from the newly regulated market. Via its Prairie Meadows partnership, it held 60.5% of the online market in December, up from 57.4% in November.
It took a further 14.1% share thanks to its Isle Casino Hotel in Waterloo partnership, though this had fallen from 18.7% the previous month.
Its nearest competitor is Riverside Casino, which holds a 11.2% share via its Bet.Works-operated online sportsbook.
Of the overall sports betting market, combining online with land-based, William Hill has shares of 43.7% and 10.3% coming from its respective tie-ups.
The largest market shares for operators without online operations are held by Ameristar II Casino and Diamond Jo casino in Worth. The latter is powered by FanDuel, which also has a further 1.7% market share via Diamond Jo’s Dubuque property. Once FanDuel’s online offering is live, its market share is likely to grow significantly.
A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.