Iowa online casino delivers record-breaking numbers in November

Iowa online casino delivers record-breaking numbers in November

Iowa had a record-breaking month in wagering and income, with more than 90% of November’s wagers coming from online casinos and sports betting platforms. While betting generated $290 million in revenue last month, $250.4 million – or 90.6 percent – of bets placed during November were online, generating $16.8 million in revenue.

Iowa gaming scene enjoys a profitable month in November of 2021

Iowa casino scene flourishes in November

Meanwhile, retail betting generated $26.9 million in wagers, generating net revenue of $2.9 million. Iowa is now a good December away from surpassing $2 billion in betting for the year, according to PlayIA, a source for news and information about the Iowa gaming sector.

According to official figures, Iowa’s online and retail sportsbooks generated $287.2 million in wagers in November, increasing 229.5 percent from $87.2 million in November 2020. November’s handle increased by 2.3% from the record $280.9 million wagered in October, a month bolstered by five football weekends.

Additionally, bettors wagered an average of $9.6 million per day for the month’s 30 days, exceeding October’s $9.1 million per day.

Additionally, revenue increased 142.5 percent to $19.7 million in November, compared to $8.1 million in the same period last year, and increased 201.2 percent from $6.6 million the prior month.

The previous record, achieved in March, was $13.5 million. November’s increases resulted in an all-time high of $2.1 million in tax income for Iowa. Caesars once again dominated the online betting market, with $104 million in wagers generating $4.7 million in income. DraftKings came in second place with $75.1 million in online wagering, generating $4.2 million in net revenue. Barstool Sports, which began on November 2, produced $770,576 in revenue and $9.7 million in wagers during its first month of operation.

Diamond Jo Worth dominated the market within the retail sector with $6.7 million in wagers, generating $2.3 million in income, followed by Ameristar Council Bluffs with $5.6 million in bets, generating $1.8 million in dollars net revenues.

Quotes from the Press Release

“The three-month expansion of betting in Iowa has established a new floor for the business,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIA.com. “Operators have leveraged football’s popularity not just to recruit new clients but also to expose existing punters to more diverse betting options. This fall’s boom will help state-licensed sportsbooks for months and years to come.”

“The state’s decision to eliminate in-person registration requirements for online sportsbooks earlier this year was a watershed moment,” noted Russ Mitchell, principal analyst at PlayIA.com. “However, the growth over the previous three months has been phenomenal.”

Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.