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Iowa reaps benefits of online sports betting

December saw Iowa break the record for the amount of money wagered in sports betting, for a fourth consecutive month

The amount wagered was up by 159.9% when compared to the same period in the previous year (2019) with new highs recorded both online and in retail spending. However, sports betting did decline when compared to November 2020. 

The revenue recorded for December amounted to $7.5million where the total amount of money wagered came in at $104.8million, which is an increase of 76.7% compared to December 2019. Having said that, November 2020 saw total revenues reach $8.1million which is more than December by $600,000. 

Praire MeadowsThe legalisation of online betting in 2019 has certainly helped the state as online gambling made up most of the revenue at $4.6million, up by 156.3% from December 2019, from stakes totaling $78.1million, another record up by 133.5% from the previous year too 

Another encouraging stastistic is that, unlike online betting, retail revenue remained resistent compared to November, generating a total of $2.9million, up 31.8% from the previous record. 

Furthermore, tax revenue of $508,747 was earned through sports betting. 

Who were the top performers? 

- William Hill’s sportsbook at Penn National Gaming’s Prairie Meadows Racetrack and Casino (pictured) 

The market leaders brought in $1.7million revenue (total bets = $22.5million). Online accounted for $1.5million with $159,632 through retail. 

- Ameristar II casino 

Surprisingly, this operator managed to rank in second even though they do not have any online operations. The revenue recorded amounted to $771,345 on $5.8million worth of bets. All these bets were placed in person. 

- Diamond Jo Casino (sportsbook operated by FanDuel) 

Revenue - $751,010 on the total amount of $10.9million. Online brought in the majority of their revenue - $599,252 on $6.3million worth of bets 

- Wild Rose Casino Jefferson’s DraftKings sportsbook 

Revenue - $696,934 on $13.0m handle 

The United States has seen a number of states benefit from sports betting as a number of records have been broken in PennsylvaniaTennessee and Iowa with other states such as New York looking at sports betting in a bid to boost their economy. 

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