Online betting reigns supreme as Iowa witnesses November record

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Iowa set a record month for betting and revenue, with more than 90% of November’s bets coming from online platforms.

Generating $ 290 million in betting income last month, $ 250.4 million – 90.6 percent – of bets made throughout November were made online, generating $ 16.8 million. dollars of income.

Meanwhile, retail betting generated $ 26.9 million in bets, creating $ 2.9 million in net revenue.

“The expansion of betting in Iowa over the past three months has set a new low for the industry,” said Eric ramsey, analyst for the PlayUSA.com Network, including PlayIA.com. “Operators have used the popularity of football not only to attract new customers, but also to expose existing bettors to more diverse forms of betting. This fall’s growth will benefit state sports betting for months and years to come.

After another strong performance, Iowa is now on a good December to hit $ 2 billion in bets for the year, according to PlayIA, an Iowa gaming market news and analysis source. .

Iowa’s online and retail sports betting generated $ 287.2 million in bets in November, up 229.5% from $ 87.2 million in November 2020, according to official data. November’s amount was up 2.3% from the record $ 280.9 million wagered in October, a month boosted by five football weekends.

In addition, bettors were making an average of $ 9.6 million per day for the 30 days of the month, surpassing the $ 9.1 million per day in October.

In addition, revenue rose 142.5% to $ 19.7 million in November, from $ 8.1 million in the same period last year and saw a steep slope from the month previous increase from 201.2% to $ 6.6 million.

The previous record was $ 13.5 million, set in March. November gains generated record tax revenue of $ 2.1 million for Iowa.

“The removal of in-person registration requirements for online sports betting at the start of the year was obviously a watershed moment for the state,” added Russ Mitchell, Senior Analyst for PlayIA.com. “But the growth of the past three months has been at another level.”

Caesars once again dominated the online market with $ 104 million in bets, generating $ 4.7 million in revenue. DraftKings was second with $ 75.1 million in online betting, generating $ 4.2 million in net revenue. Sport Bar Stool, which launched on November 2, generated $ 770,576 in revenue and $ 9.7 million in wagers.

Within the retail space, Diamond Jo Worth led the market with $ 6.7 million in wagers, generating $ 2.3 million in revenue with Ameristar Council Bluffs second with $ 5.6 million in wagers. betting, leading to $ 1.8 million in net revenue..

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