Iowa Sports Betting Handle Hits $280 Million for October
Contents
On a monthly basis, it’s interesting to check in on how certain states perform when it comes to sports betting. One of the most intriguing recent revelations was the success of Arizona in September. The state legalized sports betting on September 9th, 2021, and, while official numbers haven’t been released for that month yet, early reports believe the number could be record-breaking. The excitement for debuting sportsbooks, as well as the massive popularity of football when it comes to sports wagering, definitely contributes to this. Well, as we’ve recently seen in Iowa, that September momentum for sports betting hasn’t slowed down just because of a flip of the calendar. Let’s take a look at Iowa’s sports betting handle for the month of October.
October Sees $280 Million Sports Betting Handle for October
The state of Iowa didn’t miss a beat when it came to sports betting in October. In total, the state’s handle was $280.9 million on the month. This number is record-breaking for wagering in the state, and marks the second straight month in which sports betting has shattered a record in Iowa.
Revenue was also huge for sports betting in Iowa last month. Total revenue for October amounted to $6.6 million, a 27.8% jump from last year. In October 2020, the total revenue was only $2.8 million. The revenue number is even higher than September’s $5.7 million total in the Hawkeye State, with a 14.7% jump from month to month. Retail wagering was responsible for nearly half of the total revenue with $3 million, while online betting accounted for $3.5 million in revenue.
A Look at Legal Sports Betting in Iowa
Sports wagering has been around for quite some time in Iowa. Legal betting was first rolled out in May of 2019, with the summer season seeing retail sportsbooks begin to open up. Online sports betting launched soon afterward in August of that year. However, there was one caveat that made online betting in Iowa a bit more difficult. You had to register physically at the sportsbook in order to use it online, which was especially difficult throughout the COVID-19 pandemic. However, as of January of 2021, that rule has been reversed and bettors in Iowa can simply register online for sportsbooks.
What Other States Had a Big October?
Iowa wasn’t the only state that saw a major handle in October 2021. Oregon saw a $37.6 million handle in October, which set a record of its own. Part of this might be due to the Portland Trailblazers tipping off their season, as they’re one of the most popular teams in the state. West Virginia also saw a 38% growth in betting handle in 2021. The West Virginia sports betting handle in October was $61.7 million, showing a 2.7% growth from September. With college basketball officially tipping off tonight, and pro leagues like NFL, NHL, and NBA well into their seasons, you should expect plenty more huge betting handles across the U.S.
