The Iowa Racing and Gaming Commission has released its latest monthly revenue report revealing that the state’s licensed sports betting operators took in over $245.7 million in wagers during the month of September.
The latest figures mark an increase of 74% compared to the previous month’s handle of $141.2 million and a 22.7% increase year-on-year. Mobile sports betting accounted for 90.47% of all wagers as online sports betting operators took in over $222.3 million in wagers.
This brings brings the year-to-date sports betting handle for 2023 to just over $1.59 billion.
According to the report, sportsbooks combined to generate just over $24 million in revenue from a win percentage of 9.79%. This was a 78.1% increase on August’s revenue figure. However, it was a decrease of 5.3% on September 2022’s figure of $25.4 million when operators reported a win percentage of 12.69%. So far in 2023, sportsbooks have generated $134.2 million in revenue.
DraftKings Leads the Pack
DraftKings led both the overall market and the mobile sports betting market once again with over $8.6 million in revenue from $92.7 million in wagers. The online sportsbook operator claimed a 41.7% of the market.
The retail sports betting market leader for the month of September was Diamond Jo Dubuque which reported revenues of just over $6 million from $52 million in wagers. Its nearest competitor Diamond Jo Worth reported $2.5 million in revenue from $21.7 million in wagers.
Taxes Top $1.6 million
September saw the state collect $1.6 million in taxes from sports wagering. This was the first time since May and only the fourth time in 2023 that state taxes broke the $1 million mark. This brings the year-to-date total to just over $9 million. Iowa has now collected over $34.2 million in taxes since sports betting first launched in August of 2019.
Historical Sports Handle, Revenues & Taxes in Iowa
PeriodTotal HandleMobile HandleMobile Handle %Sportsbook RevenueWin %State Taxes
Aug 2019$8,576,341$3,670,44642.80%$2,161,80725.21%$145,915Sep 2019$38,545,352$21,810,31656.58%$4,959,74512.87%$334,780Oct 2019$46,500,331$25,923,74855.75%$5,658,13112.17%$381,379Nov 2019$59,344,806$33,665,75256.73%$3,599,7506.07%$242,903Dec 2019$59,258,838$33,450,31856.45%$2,904,2574.90%$198,872Jan 2020$58,027,141$33,846,09558.30%$3,234,7945.50%$223,571Feb 2020$56,920,783$37,786,87266.30%$755,3341.30%$97,962Mar 2020$19,576,985$13,316,06868.00%$1,171,1645.90%$79,171Apr 2020$1,568,497$1,568,497100.00%$150,3319.60%$9,502May 2020$6,976,637$6,976,637100.00%$501,0627.18%$32,111Jun 2020$12,711,201$11,581,72791.11%$620,7404.88%$42,033Jul 2020$22,859,622$17,770,14077.74%$2,244,0129.82%$151,919Aug 2020$50,313,674$34,993,35169.55%$3,003,9455.97%$202,316Sep 2020$72,397,241$50,010,62369.07%$5,167,8197.14%$348,828Oct 2020$81,902,416$56,886,20769.46%$9,098,99511.11%$612,967Nov 2020$87,169,919$62,409,86071.60%$8,144,0969.34%$549,726Dec 2020$104,815,630$78,074,46274.49%$7,537,0047.19%$508,748Jan 2021$149,524,789$120,760,37780.76%$11,343,3037.59%$765,673Feb 2021$143,615,170$125,218,44787.19%$7,708,1485.37%$520,444Mar 2021$161,439,561$139,389,14686.34%$13,454,1588.33%$908,011Apr 2021$118,355,535$104,514,35088.31%$7,725,2726.53%$521,455May 2021$114,882,963$99,916,36786.97%$6,133,4775.34%$414,175Jun 2021$111,176,671$95,130,92985.57%$8,424,6997.58%$568,502Jul 2021$88,936,377$77,923,57387.62%$7,097,8267.98%$479,479Aug 2021$108,417,527$96,067,27188.61%$6,604,6476.09%$486,608Sep 2021$210,434,587$186,544,04488.65%$5,716,0382.72%$512,951Oct 2021$280,899,986$249,911,71088.97%$6,556,2182.33%$514,642Nov 2021$287,247,116$260,368,27290.64%$19,746,2666.87%$2,063,733Dec 2021$266,518,049$241,711,91690.69%$13,371,1975.02%$957,637Jan 2022$303,327,688$275,864,32990.95%$14,269,5574.70%$964,525Feb 2022$215,921,313$195,001,06890.31%$8,579,1003.97%$593,540Mar 2022$233,525,475$208,269,56589.15%$14,411,0466.17%$972,991Apr 2022$177,370,317$161,420,79791.01%$12,398,2436.99%$838,174May 2022$147,913,284$134,345,35490.83%$12,630,3878.54%$850,598Jun 2022$122,437,950$111,903,63491.40%$6,568,6785.36%$446,594Jul 2022$108,556,796$98,363,76490.61%$11,173,19110.29%$754,292Aug 2022$122,568,313$110,106,47689.83%$14,418,92311.76%$969,968Sep 2022$200,230,741$177,584,79488.69%$25,417,55712.69%$1,716,452Oct 2022$238,788,234$212,784,28589.11%$19,137,5238.01%$1,293,702Nov 2022$247,476,284$223,487,88390.31%$5,802,2612.34%$1,596,412Dec 2022$229,949,570$206,925,02389.99%$20,745,5249.02%$1,351,997Jan 2023$233,619,612$207,674,19688.89%$16,543,3617.08%$1,081,365Feb 2023$193,879,638$176,196,51390.88%$11,871,1566.12%$789,626Mar 2023$232,614,150$208,995,59489.85%$19,857,2108.54%$1,296,262Apr 2023$172,589,394$157,530,40291.27%$14,117,8688.18%$958,605May 2023$147,715,126$135,181,45591.51%$16,599,87111.24%$1,060,059Jun 2023$115,595,593$105,728,08991.46%$7,131,1736.17%$570,976Jul 2023$109,680,895$101,297,78692.36%$10,568,9899.64%$713,772Aug 2023$141,295,039$131,920,79793.37%$13,507,2809.56%$911,670Sep 2023$245,759,020$222,346,24390.47%$24,059,0839.79%$1,623,694Totals$6,769,728,177$5,884,125,56882.73%$474,602,2167.68%$34,231,287
Ciaran McEneaney Gambling industry analyst with over a decade of experience working with some of the biggest names in the sports-betting, gambling, poker & casino industry.
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