August Sees Iowa Sports Betting Bounce Back With $122.6 Million Handle

As is the case with many states, Iowa sports betting had a more relaxed summer. The summer months generally see a decrease in sports wagering numbers due to the MLB being the only mainstream sport to bet on and a bigger focus on vacation time. For the most part, 2022 has been no different as even major sports betting markets such as New York see diminished betting numbers.

However, the month of August saw an upswing in the Iowa sports betting handle. Here’s what you need to know about the month-to-month jump in betting numbers in the Hawkeye State.

Iowa Sports Betting Strikes Back With $122.6 Million August

While Iowa sports wagering had seen decreased numbers throughout the summer, August saw a comeback as sports fans increased their spending with both online sportsbooks and retail sportsbooks.

According to Gambling News, the state saw an August sports betting handle of $122.6 million as the NFL preseason kicked off and the MLB inched closer to the playoffs. Additionally, the Hawkeye State once again hosted the Field of Dreams game between the Cincinnati Reds and Chicago Cubs in August, which likely contributed to the higher number.

This August handle is a significant increase from the previous month, as July saw just $108.6 million in Iowa sports betting handle. This means that over sports wagering numbers jumped 12.9% from month to month. It’s also a major increase from the previous year, with August 2022 seeing 12.4% in bets.

Ever since March of 2022, the sports betting handle has steadily decreased in the state, so this signals the upward trend generally seen as the NFL season gets ready to kick off.

DraftKings and FanDuel Dominate Iowa Betting Market

The state of Iowa is home to a number of different sports betting platforms, such as Caesars Sportsbook Iowa, BetMGM Sportsbook Iowa, Betfred Sports Iowa, and BetRivers Sportsbook Iowa. However, the top two options for sports bettors remained the same in August as DraftKings Sportsbook and FanDuel Sportsbook saw the most money, with DraftKings retaining the top spot with a $33.2 million handle and FanDuel seeing a $29.3 million handle.

In terms of revenue, DraftKings Iowa brought in $3.5 million with a total of $3.2 million for FanDuel Iowa. Caesars Sportsbook still saw a decent month of its own, totaling $22.1 million in handle with $2.4 million in revenue. Meanwhile, BetMGM Iowa finished in fourth place in August, with a $12.5 million monthly betting handle and $1.4 million revenue total.

NFL Season Should See Continued Growth in Iowa Betting Numbers

The sports betting drought is officially over in Iowa, and you can expect more major monthly handles throughout the fall. The NFL regular season kicked off on September 8th, 2022, and while the exact numbers aren’t in yet, you can expect that plenty of new and experienced bettors in the state of Iowa backed their favorite teams this past weekend.

Nearby Kansas also launched sports betting at the start of September, which will be an interesting area to watch once the initial betting numbers are in. With geolocation company GeoComply reporting massive numbers of location checks as the football season starts, you can expect some big September handles for Iowa, Kansas, and the rest of the U.S. sports betting market.