Iowa sports betting handle and revenue rise in January

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Sports betting handle and revenue in Iowa both increased year-on-year in January but fell on a month-on-month basis from December.

Total consumer spending in Iowa during January was $259.5m (£205.4m/€240.5m). This is 11.1% ahead of $233.6m in January 2023 and but 8.2% behind $282.7m in December.

Some $238.4m spent wagering on sports online, while the remaining £21.1m was bet at retail sportsbooks.

As for revenue, this amounted to $22.1m in January. The figure is 33.9% clear of $16.5m in January last year but 16.0% short of December’s $26.3m haul.

Online wagering accounted for $20.5m of all monthly revenue in Iowa, with retail’s share at $1.5m.

FanDuel and Diamond Jo Dubuque remains Iowa frontrunners

In terms of individual operators, FanDuel and Diamond Jo Dubuque remain the leaders in Iowa by some distance. For January, the partnership generated $8.0m from $68.0m in bets.

DraftKings and partner Wild Rose Jefferson followed in a distance second with revenue of $3.1m for January. Players spend $39.2m betting on sports across online and retail via the partnership.

Sister property Wild Rose Clinton, also partnered with DraftKings, was third for the month. Revenue here reached $2.7m, with monthly handle for January at $29.8m. 

Iowa’s third Wild Rose venue in Emmetsburg posted $2.4m in revenue from its partnership with DraftKings. This came as player bet $24.8m during the month.

Players won a total of $237.4m during the month, including $217.9m online and $19.5m at retail sites. Tax for January reached $1.5m.

PointsBet enters the fray

The monthly results come after Fanatics Betting and Gaming (FBG) last week announced the launch of its sportsbook in Iowa. Fanatics is replacing the PointsBet brand in the Hawkeye State. 

The existing PointsBet retail sportsbook at Catfish Bend Casino is being rebranded as a Fanatics Sportsbook. This project includes installing new self-service betting kiosks from Suzohapp.

Iowa marks the 12th state for the Fanatics Sportsbook. It is also the latest phase of FBG phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

For January, Catfish Bend Casino posted $311,186 in revenue from $3.7m in bets.

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