The Iowa Racing and Gaming Commission released its revenue report for December. It showed that Iowa sports betting revenue reached a new milestone during the month at $26.2 million with a win percentage of 9.28 percent.
The state achieved a new revenue record despite a 2.3 percent decrease in the handle at more than $282.7 million. According to bookie pay per head reports, the handle during November was $289.6 million. However, it was a 22.9 percent increase year-over-year.
With this month’s total wagering amount, the state surpassed all but three years in 2022 and reached $2.4 billion in total sports betting handling, up 4.3% from the previous year. While online sportsbooks took over $258.2 million in wagers, 91.35 percent of those bets came from mobile devices.
Iowa Sports Betting Revenue
Even while bookmakers reported a decrease in wagers from one month to the next, they still managed to earn $26.2 million with a win percentage of 9.28%. Since sports betting in Iowa began in August 2019, this is the most significant monthly revenue total. In September 2022, $25.4 million was the previous record. Total sales for 2023 came in at $198.7 million, up 20% from $165.5 million the previous year.
Earning more than $9.9 million from $101.9 million in bets, DraftKings is again at the top of the mobile sports betting industry and the total market. According to pay per head experts, DraftKings’s mobile and retail sportsbooks received little more than 36% of all wagers.
Once again, Diamond Jo Worth topped the retail sports betting market for December, with revenues of a little over $572,977 on $6.6 million in wagers.
According to Olympic news and gambling sites, taxes on sports betting brought in $1.77 million for the state in December. Even though it was far lower than the record-breaking $2 million collected in November 2021, this was the second-highest tax haul in the state’s history. The total amount collected in 2023 from sports wagering taxes is £13.3 million, an increase of 8.13% from $12.3 million in 2022.