Iowans Bet Nearly $60m in November According to IRGC, Photo by Public Domain Pictures Industry

Strong November Sports Betting Figures in Iowa

By Amelia Walker Senior Content Writer Updated: 15 December 2019

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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As is the case in many states, the November figures have been released for sports betting in Iowa. The figures, which were released by the Iowa Racing and Gaming Commission (IRGC) show that the handle has risen to nearly $60 million, proving that sports betting continues to grow in the state. It wasn’t all good news though, as the overall revenue actually dropped when compared to October.

Mobile betting was the main driver behind the strong sports betting handle in November, taking the majority of the bets placed by Iowa gamblers. Those using a mobile device to bet placed bets totalling $33.7m, while the total value of all retail bets placed in the state was $25.7m. This means that mobile betting has jumped by 29.9% when compared to October, while retail betting has increased by 24.8%.

The increasing handle is undoubtedly good news for Iowa, however it does mean that it is way behind some other states in the country. New Jersey, for example, took bets worth nearly $600m over the same time period. Of course, the Iowa sports betting industry is far less developed than the one in New Jersey though, plus Iowa’s population is smaller than that of many other states in the country.

Handle Up, But Revenue Down

It wasn’t all good news for sports betting companies in Iowa though, as while the handle went up, the revenue actually went down. Throughout the month, gamblers won back $55.7m of the $59.3m they bet, meaning that the casinos‘ revenue stood at $3.6m. Despite being far less popular, retail venues contributed most to the revenue, as they won the casinos $2.1m. Online bets only earned the casinos $1.5m.

Of course, lower revenues are bad for the state, as this means that there’s less money earned via tax. In November, the state took $242,903 in taxes. This is down from $381,379 in October, when sports betting had a revenue of $5.7m.

In-Person Registration Required

When looking at the figures, it is important to remember that there’s a requirement to attend a retail location in order to sign-up for sports betting – it is not possible to just start betting on sports using a mobile without this verification step. This means that the percentage of bets made using a mobile should rise in the future, as more and more people register and can therefore place mobile bets.

This requirement to register might be annoying for many, however it is helping the casino industry as a whole, thanks to the increased footfall. Brian Ohorilko, adminstrator for the IRGC, stated that:

“Admissions are up almost 4 percent in the casinos and slot revenue is up, but we’re seeing a significant increase in table play – up about 7.5 percent. That will be interesting to see if that trend continues.“

At some point, however, the increase in footfall in casinos is expected to slow down, as people sign-up for online sports betting and then don’t have to visit a casino again. Of course, there will be some who enjoyed the casino experience and will return though.