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Sports betting in the Midwest is setting all kinds of records.
Fresh off the heels of Illinois recording $840.4 million in sports betting handle, both Iowa and Indiana added similar amounts to their record books.
In November, Iowa sports betting handle reached $287.2 million, while Indiana set its third consecutive monthly betting record with $463.7 million in wagers.
Iowa sports betting revenue breakdown
According to the state gaming commission data, retail and online sports betting in Hawkeye State were up 229.5% compared to November 2020.
Sportsbooks took in $19.7 million in revenue in November, translating to $2,063,733 in tax revenue.
Caesars Entertainment was the top performer in the state, with its five casinos totaling nearly $104 million in the online betting handle.
From a revenue perspective, the top performer was the FanDuel Sportsbook, which recorded $4.3 million in November.
The Barstool Sportsbook, which launched on Nov. 2, generated $770,576 in revenue on $9.7 million in bets.
Indiana sports betting revenue breakdown
Sportsbooks in the Hoosier State totaled $47.6 million in revenue for November. To date, IN sports betting operators have made over $400 million in revenue since 2019.
The DraftKings Sportsbook was the most popular app with over $166 million in wagers.
Although Indiana is primarily known as a basketball state, football betting will remain the top performer of the month, but not by much.
- Football: $136 million
- Basketball: $132 million
November’s record month translated to $4.5 million in state tax revenue. Furthermore, pushing total lifetime tax revenue to $40 million.
What’s next for the Midwest sports betting industry
Through 2021, gamblers in Indiana have wagered over $3.3 billion on sports betting, making Indiana one of the top markets in the Midwest.
However, Iowa remains competitive and will continue to do sure through 2022.
Illinois sports betting will certainly increase now that sportsbooks are permitted in Chicago. Local officials approved an ordinance allowing the construction of sportsbooks at pro-stadiums in the city.
In particular, it means popular destinations like Wrigley Field and Soldier Field could have retail sportsbooks in the near future.
