Iowa sports wagering revenue rises to $140 million in November

Sports Betting

The Iowa Racing and Gaming Commission reported a 3% rise in sports bets to $140.3 million for November as DraftKings set all-time state highs for handle and revenue.

Operators across the Hawkeye State combined for a 10.1% hold against $270.8 million handle as they bettered the previous record for revenue set at last December at $26.2 million. Handle was up 10.2% from last year, while revenue was 14.1% higher than September 2023. Wagering also surged 62.2% versus August, with revenue up 74.3%.

It was the second time in three months that Iowa sportsbooks attained a double-digit hold, but it was just the second time in state history that it was achieved with a minimum $200 million handle. The previous instance came in September 2022, when the house had a 12.7% win rate on $200.2 million worth of wagers.

The state collected nearly $1.9 million in taxes, and the $10.6 million that has flowed into its coffers for the year is $1.6 million ahead of the first nine months of 2023.

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