Analysis

Iowa ends 2020 with record revenues

Iowa sportsbooks enjoyed record revenues in December and major sporting events in the coming weeks should lead to further growth. 

Iowa’s bettors wagered a total of $104.8m in online and retail bets in December 2020. Operators booked revenues of $7.5m. 

The figures marked a 17.9% rise on November’s handle of $87.6m.

Online share of the activity also rose to 74.5% compared with around 50-60% previously.    

The latest figures mean Iowa has reached just over $575m in handle since going live in the Summer. 

As a further sign of the importance of remote channels, online generated $405.2m or 70.4% of handle in 2020. 

That share level is expected to rise further in the coming weeks.  

Remote gains

Another positive for the industry in the Hawkeye state is the requirement for players to register in-person has been removed. 

Operators are preparing for major state and national sporting events in the coming weeks.

There is the College Football Playoff in January, SuperBowl Sunday on 7 February and the University of Iowa taking part in March Madness. Betting volumes should hit new highs. 

Iowa is currently 11th on the Wedge Index of gaming friendliness on 35 points. The removal of in-person registration requirements will provide it with a further 15 points, pushing it into the top 10.  

Hills continues to lead

William Hill’s sportsbook continued to lead the field at the Prairie Meadows Racetrack and Casino. It achieved $22.5m in handle and $1.7m in revenue. 

Draftkings’ outlet at the Wild Rose casino in Jefferson was second with $13m in handle and $0.7m in revenue. 

FanDuel’s sportsbook at the Diamond Jo Casino in Worth came in third with $10.9m in handle and $0.7 in revenue. 

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Jake Pollard

Jake Pollard is an experienced journalist and editor who has covered the online gaming and betting industry for many years. He has written for the leading media outlets as well as operators and suppliers in the igaming space. His current areas of focus are wide-ranging and include regulatory developments in the US, emerging markets in South America and how European countries are adapting to a decade of igaming regulation.

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