The December revenue reports are starting to trickle in, giving the industry its first look at how ESPN Bet has performed with a full month of operation.
In Iowa, the app landed fourth behind DraftKings, FanDuel and Caesars Sportsbook. Altogether, Iowa sportsbooks posted $282.7 million in handle, which was a drop off from the near-record numbers in November when sportsbooks generated almost $290 million in handle.
DraftKings led the pack with $94.7 million in handle, followed by FanDuel with $67.5 million. Caesars nearly doubled ESPN Bet’s take with $36.7 million compared to ESPN Bet’s $18.8 million. During December 2022 Barstool Sportsbook handled $7.2 million, so it is a positive step. With 6.7% of handle though, there is still a lot of work to do for Penn and ESPN to reach its 20% market share goal.
Sportsbooks posted $26.3 million in gross gaming revenue for a hold percentage of 9.3%. Both DraftKings and FanDuel held in excess of 10% with $9.9 million and $7.1 million respectively. ESPN Bet posted $1.7 million in revenue for the month.
Two operators, Circa and Bally Bet, posted losses on the month. Circa Sportsbook handled $2.5 million but lost $76,541 in December. Bally Bet handled a mere $230,567 and lost $36,890.
Hard Rock Bet stopped taking wagers in November but officially went offline on Dec. 28, of last year. Accordingly, the operator posted $557 in losses as the final bets were cashed in. The retail sportsbook at Hard Rock Hotel & Casino in Sioux City will continue operations even though the digital side is shutting down.
