Sports wagering revenue in Iowa increased to $5.7m in October, the second full month of regulated betting in the state, with growth across both the retail and online sectors.
Total revenue was up 14.9% from $5.0m in September, the first month of legal sports betting following the launch of legal wagering on August 15.
Consumers wagered a total of $46.5m on sports in October, up 20.8% month-on-month, while tax collected from legal sports wagering in the state increased by 14.0% to $381,379.
Online remained the most popular form of sports wagering in Iowa, with players staking $25.9m, up 18.8% on $21.8m in September. Digital revenue was also up 32.6% from $2.0m to $2.7m.
However, despite consumers spending less at land-based sportsbooks, retail was again the main source of revenue for licensed operators. Overall retail revenue amounted to $3.0m, up from $2.9m in September, while retail handle also grew from $16.7m to $20.6m.
The William Hill-powered offering at the Prairie Meadows Racetrack and Casino remained the market leader in Iowa, generating $1.7m in sports betting revenue from $17.8m in bets. This was primarily driven by its online performance, with internet sports wagering revenue standing at a statewide high of $1.5m.
Penn National Gaming’s Ameristar Casino Hotel Council Bluffs placed second in revenue terms, generating $446,958 from $3.7m in sports bets. However, this was all from retail as the casino does not currently offer online or mobile betting.
The Horseshoe Casino Council Bluffs, the Caesars Entertainment-owned venue, followed just behind with $446,508 in retail-only revenue and a handle of $2.1m from its Scientific Games sportsbook.
The Riverside Casino and Golf Resort move into fourth place in terms of revenue, posting $430,084 for the month in combined retail and online revenue, while its handle amounted to $3.4m.
The Isle Casino Hotel in Waterloo saw its retail and online revenue increase from $350,647 in September to $411,38, while the Diamond Jo site in Worth posted $403,919 in retail-only revenue.
The Cat Fish Bend Casino, Diamond Jo (Dubuque), Grand Falls Casino Resort, Hard Rock Casino, Harrah’s Council Bluff Casino & Hotel, Lakeside Casino, Q Casino, Rhythm City Casino and the Wild Rose sites in Clinton, Emmetsburg and Jefferson all posted revenue lower than $400,000, in October.
Since the market opened in August, licensed operators in Iowa generated $12.9m in collective sports betting revenue. Consumers spent a total of $127.2m on bets during the first two-and-a-half months of regulated operations.
Image: Tony Webster