Iowa Sports Betting Passes $2 Billion, Adds To Already Strong Midwest Market

Written By Nicholaus Garcia on January 12, 2022

Another state has crossed the threshold of generating over $2 billion in sports betting handle.

Iowa customers wagered more than $266.5 million in December, helping it become just the 10th state to cross the $2 billion mark.

A $2 billion outlook for Iowa sports betting

For 2021, Iowa sports betting generated $2.04 billion in online and retail wagers, which is up 225% from $575.2 million in 2020.

Additionally, the state produced $1.8 billion in online wagers, up 343.7% from $405.2 million in 2020.

How productive is mobile wagering?

In the Hawkeye State, mobile sports betting accounted for 90.7% of the overall handle in December, according to the state Racing and Gaming Commission.

Iowa moved away from in-person registration in 2021. During its original launch in August 2019, the state required customers to sign up for a betting account at commercial casinos.

The top sportsbook operator in Iowa is…

The Caesars Sportsbook continues to be the No.1 operator in Iowa. In December, the company took in $90.1 million in wagers good for $3.6 million in revenue. For the year, Caesars has accepted nearly $653 million in sports bets.

Other operator handle breakdowns include:

  • DraftKings $72.3 million
  • FanDuel $35.7 million
  • BetMGM $17.2 million
  • Barstool $ 9 million
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Helping boost the midwest sports betting market

Although December revenue numbers have yet to be released, Illinois enjoyed a profitable November with sportsbooks netting nearly $80 million in revenue.

For November, Illinois bettors wagered a total of $779.8 million, up 74% from $449.2 million during the same month in 2020.

Of the total sports betting handle, $746 million or 95.7% was generated via online sports betting.

According to the Illinois Gaming Board, $166.4 million of November sports bets came via parlays. 

Of the revenue generated, NFL betting accounted for $21.2 million, translating to $12.7 million in tax revenue for the state.

For the month, Illinois sports betting trailed only New Jersey ($1.3 billion in handle) and Nevada ($1.1 billion in handle).

King of Illinois

Unlike Iowa, in the Land of Lincoln, DraftKings took home the crown of top operator.

DraftKings Sportsbook accounted for 38% of the market share good for $283.8 million in bets.

FanDuel ($214.4 million) came in second with BetRivers ($112.3 million) coming in third.

Photo by Grindstone Media Group / Shutterstock
Nicholaus Garcia Avatar
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Nicholaus Garcia

Nick has had stints in Chicago and Washington, D.C., writing about politics, financial markets, and sports betting. He graduated from Texas Tech University and completed his master's degree in journalism at Columbia College Chicago.

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