Iowa sports wagers jump 11% in January

Sports Betting

The Iowa Racing and Gaming Commission reported nearly $22.1 million in adjusted gross sports betting revenuefor January as both DraftKings and FanDuel started the year in strong fashion.

It was the fifth-highest revenue total in 54 months of wagering in the Hawkeye State, and four of the top five amounts have come in the last five months of betting. Operators statewide had an 8.5% hold as nearly $259.5 million was wagered.

Revenue was up 33.4% compared to the first month of 2023 as the win rate was more than 1.4 percentage points higher. Handle was up 11.1% year-over-year, but both handle and revenue were down compared to December.

The state received nearly $1.5 million in taxes, pushing the all-time total above $40 million. Iowa taxes sports wagering revenue at 6.75%, tied with Nevada for the lowest rate in the United States.