Indiana and Iowa Sports Betting Hit Record Highs in SeptemberPublished October 19, 2020 by Elana K
Indiana and Iowa reported record-breaking sports betting handles and revenue in the month of September.
Both Indiana and Iowa reported record-breaking sports betting handles and revenue in the month of September. Indiana broke the $200 million barrier for the first time, with a handle of $207.5 million. From that, operators earned $14.3 million in revenue. Iowa also recorded a record-high handle of $72.4 million and a near-record of $5.2 million. The current record was reached in October 2019 with $5.7 million in revenue.
Though Iowa’s September handle marked a milestone, it is significantly less than Indiana’s. One of the main reasons for this is the former’s requirement to register in-person, which is clearly an obstacle that many potential bettors are not willing to face.
Indiana’s new record handle of $207.5 million is 10.8% higher than its previous record of $187.2 million, which was set in February 2020. Between the months of February and September, Illinois launched its mobile sports betting operation, presenting new competition to Indiana. But it appears that even neighborly mobile competition cannot slow down the Hoosier thirst for sports betting, especially after pro sports were on break for several months.
Leading operators in Indiana include DraftKings and FanDuel, though the former is in first place by far. DraftKings took in 43.1% of the state’s sports betting handle while FanDuel accounted for 27.2%. BetMGM, BetRivers, and PointsBet all hit above the $6 million mark.
83% of September's total handle came from mobile devices, an illustration of just how important the mobile component is.
Iowa’s requirement for bettors to register in person is likely preventing the sports handle from climbing higher. Still, sports operators managed to hit a record-high handle of $72 million in September. The numbers reflect a whopping 43% increase from August’s handle. Pro and college football season certainly drove growth. The state also saw the launch of FanDuel and Betfred USA Sports in early September, which added avenues for sports betting.
69.1% of the state's total handle came from mobile devices, a 42.9% increase from August’s mobile handle. When the requirement to register in person is dissolved in January 2021, mobile sports numbers are likely to rise.