Iowa Sportsbooks Set New Record
While 2021 was a big year for the sports betting industry in Iowa, 2022 could be even bigger. This industry got off to a massive start in the first month of the year as the total sports betting handle set at a new record with $303.3 million in wagers.
December saw a slight dip in sports betting numbers for the state, but the NFL Playoffs and college basketball helped boost the totals in January. This shattered the new record by close to $16 million, and the online sports betting handle also established a new record with a total of $275.8 million.
All 19 casinos in Iowa now offer both retail and online sports betting of some sort, and more sportsbooks could still be on the way. A majority of the betting is done online or through mobile apps, but retail sports betting has started to pick up.
The total sports betting revenue for January was $14.2 million, which was an increase of close to seven percent from December. Iowa received right around $964,000 in tax revenue from sports betting, which was a slight jump from December.
Iowa was once among the leaders in the Midwest, but it has since been passed up by Illinois, Indiana, and Michigan. Even if Iowa cannot catch the leaders, starting the year off with a record for sports betting handle is a great sign of things to come.
Caesars Leading the Way
Nearly all of the biggest names in the sports betting industry offer sports betting in Iowa, but one operator stood above the rest in January.
Caesars Sportsbook posted a total sports betting handle of $112.6 million to easily lead the way compared to other options.
Caesars was Iowa’s favorite sportsbook during the month of January, earning a $112.6 million sports betting handle.DraftKings and FanDuel continue to battle it out in both the sports betting and DFS industries, but DraftKings took control in Iowa last month. That operator posted a total online handle of $68.9 million, while FanDuel was third on the list at $44.1 million.
BetMGM ($21.7 million) and Barstool Sportsbook ($9.1 million) made up the rest of the top five in Iowa for the month of January.
DRF Sportsbook Now Available
The DRF Sportsbook is now available in Iowa as well as that operator officially went live on Jan. 25. DRF formed a partnership with Lakeside Casino and Resort to gain entry into the Hawkeye State through its online skin.
Daily Racing Form is the official name of this company, and it has been a big name in the horse racing industry since 1894. This is the first state in which the DRF Sportsbook is available, and it will offer traditional sports betting as well as horse race betting.
DRF is now the 18th online sportsbook in the state, and it is not expected to challenge the leaders in terms of handle or revenue.
