Iowa’s online sportsbooks saw a revenue dip in November, but this was largely due to the odds going against them rather than any fall in enthusiasm among punters.
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.
The state’s bookies turned over a record amount during the month, with online/mobile handle of $62.4m representing a 9.7% month-on-month rise and an 85.1% year-on-year increase.
Retail handle was slightly down on the previous month at $24.8m, but this figure still allowed the combined sports betting market to reach a new record for the total amount wagered during the month.
On the retail front, bookies kept a higher percentage of the bets taken than was the case online. Retail GGR for the month totalled $2.9m, up 7.4% on the previous month’s $2.7m and 45% on the $2.0m of November 2019.
Online GGR fell to $5.3m in November, down from $6.4m in October but up from just $1.5m in November the previous year.
FanDuel continued to make its relatively new online presence felt in the market in its third month of operation.
Since expanding its partnership with Boyd Gaming’s Diamond Jo Worth and Dubuque properties into the online space, the DFS giant has made strong inroads when it comes to market share.
Last month the Dubuque property climbed into second position in terms of market share by online revenues, capturing 11.7% of the market, up from 9.0% in October.
It remains some way from the market leader, however, with William Hill-partnered Penn National’s Prairie Meadows Racetrack and Casino holding a 32.6% share of the market in the same period.
It’s worth noting that Penn’s share has fallen significantly over the past year, with the operator having held 57.4% of the online market in November 2019.
It also lost ground in the overall sports betting (retail and online combined) market in November, with its market share falling to 21.7%. This represented a 15.6% fall on the previous month and a 25% fall on the same month of 2019.
Here too it appears to be FanDuel that’s chipping away at its lead – the Diamond Jo Worth property came in second in November with a market share of 12.6%, while Dubuque was in fourth place with 9.1%. Both were up on the previous month.
The Kambi-powered Ameristar II regained some of its October losses in November, with its market share rising to 10.8%, putting it in third place for the month.
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A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.