Iowa January Sports Betting Revenue Rises Year-on-Year
LISTEN TO THIS ARTICLE:In January, Iowa bettors wagered a total of $259.5m on sports, an increase of 11.1% compared to the $233.6m recorded in the same month in 2023. However, the figure dropped 8.2% compared to $282.7m in December. While online bets accounted for $238.4m of the total, $21.1m was wagered at retail sportsbooks.
In terms of revenue, the state’s betting receipts reached $22.1m in January. The revenue is 33.9% ahead of the $16.5m generated in January 2023, but it was a decrease of 16.0% compared to December’s $26.3m. As expected, online betting contributed the highest revenue at $20.5m, while retail accounted for $1.5m.
FanDuel and Diamond Jo Dubuque Maintain the Lead
FanDuel and Diamond Jo Dubuque continue to dominate the Iowa sports betting market. The partnership earned $8.0m from $68.0m in bets in January.
DraftKings and partner Wild Rose Jefferson secured second place, with a revenue of $3.1m off a handle of $39.2m. Sister establishment Wild Rose Clinton partnered with DraftKings and secured the third position for the month, with revenue reaching $2.7m from a monthly handle of $29.8m.
Iowa's third Wild Rose venue in Emmetsburg, also in collaboration with DraftKings, recorded $2.4m from bets totaling $24.8m. In January, players collectively won $237.4m, with $217.9m from online platforms and $19.5m from retail sites. The state received $1.5m in tax for the month.
Fanatics Launch in Iowa
Last week, Iowa welcomed Fanatics Betting and Gaming (FBG) into its betting market. Fanatics is taking over the PointsBet brand in the Hawkeye State following its acquisition of PoinstBet US operations in August 2023.
The PointsBet retail sportsbook at Catfish Bend Casino is undergoing a rebranding as a Fanatics Sportsbook. The rebrand will see new self-service betting kiosks from Suzohapp installed in the establishment.
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