Iowa sports betting revenue rises to $5.7m in October

12 November 2019

Sports wagering revenue in Iowa increased to $5.7m (£4.4m/€5.2m) 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.

Read the full story on iGB North America.

Image: Tony Webster