Iowa’s sports betting market recovered from October’s industry-wide slump and then some in November.
The state’s sportsbooks took $315.2 million in bets last month, according to the Iowa Gaming and Racing Commission, a 6.8% increase on October and an 8.8% rise year-over-year. Operators’ revenue soared, up 63% month-over-month and 113% from November 2023 to reach $30.1 million.
Both handle and revenue were all-time records for the state since it launched sports betting in 2019, beating respective marks of $303.3 million set in January 2022 and $27.5 million in September 2024.
November’s hold of 9.3% was nearly three percent higher than October, when “customer-friendly” outcomes hit sportsbooks hard across the U.S. Like GGR, it was also more than double last November’s figure.
Last month brought in more than $2 million in sports betting tax revenue for the state’s coffers.
November’s totals took Iowa’s all-time sports betting handle over $10 billion, and state tax revenue is now more than $50 million since launch.
DraftKings sets pace, Fanatics breaks $1 million
Of the $315 million in wagers for the Hawkeye State, around $294 million were placed with one of the state’s 13 mobile sportsbooks. Each of the top seven online operators saw both their handle and their revenue increase year over year.
DraftKings led the way in Iowa in November, posting personal-best handle ($115.8 million) and revenue ($12.1 million) with a hold of 10.5%. FanDuel also posted monthly Iowa records with $8.6 million in GGR from $81.1 million in handle.
Caesars completed the podium by finishing third in both categories, with $2.2 million in revenue from $30.4 million handle. BetMGM took a new monthly high of $23.2 million in bets but that only yielded $1.5 million in GGR off a 6.6% hold.
Fanatics finished in sixth, behind bet365, but broke $1 million in Iowa monthly revenue for the first time ever. It posted an impressive 10.3% hold, only slightly lower than FanDuel and DraftKings managed, with handle just below $10 million.
Lower down the ladder, ESPN Bet made $648,000 from $8.7 million in bets, while BetRivers was battered by bettors. The Rush Street Interactive-owned brand took $3.8 million in wagers but made just $104,000.
