The sports betting market in Iowa is booming, with August seeing a significant increase in total handle and revenue compared to July. According to the Iowa Racing and Gaming Commission, sportsbooks in the state had a total handle of $169.99 million in August, a 20% increase from the previous month. Operators were able to generate $15.76 million in revenue through a 9.43% hold, significantly better than July 2024 figures.
Iowa sports betting apps and online sportsbooks dominated the market in August, accounting for 93.5% of the total handle. This was an 18.3% increase compared to the previous year. Compared to July 2024, online sports betting handle in Iowa rose by 19.5% and wagers jumped 44.8%. The top online operators in Iowa included DraftKings, FanDuel, Caesar Sportsbooks, BetMGM, and bet365.
In addition to the success of sports betting, casino figures were also up in August. Nineteen commercial casinos in Iowa generated $144.2 million in adjusted gross revenue, a slight increase from the previous year. Overall, Iowa sportsbooks have driven in $16.3 million in tax contributions in 2024.
With football season in full swing, the Iowa sports betting market is likely to continue its upward trajectory in the coming months. Sportsbooks are expected to see even higher figures as the football season progresses and more bettors join in on the action.
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