Total Iowa Sports Betting Handle Surpasses $1 Billion in February
Published March 16, 2021 by Elana K
In February 2021, Iowa sports betting generated $143.6 million in handle, making it the seventh state to surpass the billion-dollar milestone since PASPA was repealed in 2018.
In February 2021, Iowa sports betting generated $143.6 million in handle, making it the seventh state to surpass the billion-dollar milestone since PASPA was repealed in 2018.
Although February’s total is not the highest to-date in the state, its per-day winnings are. In January, the total handle reached $149.5 million, significantly higher than February’s $143.6 million. However, January has 3 more days than February. Comparing the per-day bets, February generated $5.1 million per day, while January generated "only" $4.8 million.
Since Iowa did away with the requirement to register in-person for online sports betting in January 2021, the industry has seen massive growth. With March Madness on the horizon, Iowa sports betting is likely to post even higher numbers, especially if the University of Iowa’s basketball team does well.
Breakdown of Bets and Winnings
According to the Iowa Racing and Gaming Commission, 87.2%, amounting to $125.2 million in bets, came from online betting, while $16.2 million was bet on the Super Bowl. Operators generated $7.7 million in revenue and the state earned about $520 thousand in taxes. Since Iowa launched its sports betting industry in 2019, operators have generated nearly $80 million in revenue and the state has earned $5.45 million in taxes.
William Hill, which has retail sportsbooks in six partners, took in $50 million in bets. The BetRivers-DraftKings partnership took in $39.4 million and the BetMGM-FanDuel duo took in $33.1 million.
There are currently 11 licensed sportsbooks in Iowa and another 13 companies that have applied for state licenses.
