Iowa Sports Betting Generates US-2872 Millions in November.jpg

It seems that every new month for sports betting in the US, a new record is set. The latest record-breaking state is Iowa, with its sports bookmakers breaking a new record in both gross (total betting) and revenue, generating nearly $290 million in betting for November.

Iowa’s online and retail bookmakers generated $287.2 million in betting in November, 230% up from $87.2 million for November 2020. The month’s turnover was up 2% from the October record of US$280.9 million.

Bettors placed $9.6 million in bets per day for the 30 days of the month, up from $9.1 million a day in October.

Revenue increased 143% from the previous month and increased 201% from the previous month. The November gains produced a record $2.1 million in tax revenue for the state.

The State has been recording expressive numbers in sports betting this year

vSo far, the state’s sports betting has generated $1.8 billion in betting (including $778.6 million in the last three months), $101.1 million in revenue (including $32 million in the last three months) and $7.8 million in taxes (including $3.1 million in the last three months).

The last three months represent the three biggest monthly maneuvers in the state’s history.

Online betting accounted for 91% of total state revenue in November, producing $16.8 million in revenue, while retail betting created $2.9 million in net revenue.

The online market was led by Caesars, with $104 million in wagers and $4.7 million in revenue. DraftKings came in second with $75.1 million in online betting; and Barstool Sports, released Nov. 2, generated $9.7 million in revenue.

Diamond Jo Worth led the retail market with $6.7 million in betting and $2.3 million in revenue. Ameristar Council Bluffs came in second with $5.6 million in betting and $1.8 million in net income.