Iowa sports handle tops $150 million in August
The Iowa Racing and Gaming Commission (IRGC), Iowa sportsbooks in August saw $169.99 million in total handle.
That was a 20% month-over-month increase from the $138.1 million they saw in July. Additionally, operators harvested $15.76 million in revenue from the wagering in August. They did this through a 9.43% hold, 13.5% better than their figures in July 2024. In just 2024, Iowa sportsbooks have driven in $16.3 million in tax contributions.
The $167 million that Iowa saw wagered in August 2024 was an 18.2% year-over-year increase from August 2023 when they saw $141.3 million wagered. That was Iowa’s first month-over-month increase since March. Iowa sports betting apps and online sportsbooks took control of the market in August 2024. They accounted for 93.5% of the total handle, $156.1 million.
This was an 18.3% increase compared to August 2023 when they saw $131.9 million wagered. Retail sportsbooks in Iowa generated $10.9 million in handle, up 16% from last year.
Compared to the figures they had in July 2024, the online sports betting handle in Iowa rose by 19.5% while wagers jumped 44.8%. Last month, Iowa sportsbooks paid roughly $151.2 million in winnings.
That left them $15.8 million in sports betting revenue, a 16.6% increase from August 2023. In Iowa, there are 18 online operators. Of them all, DraftKings led the market with a $64.3 million handle. FanDuel sportsbooks came in second place with their $36.9 million in handle. Caesar Sportsbooks’ $16.6 million handle was third among all online sportsbooks in Iowa.
BetMGM was fourth with $13.5 million and bet365 rounded out the top five at $8.1 million. The IRGC also reported that casini figures were up in August. Nineteen commercial casinos in Iowa generated $144.2 million in adjusted gross revenue. A slight (0.7%) increase from August 2023.