In August, Iowa sportsbooks had a betting handle of $167 million, an 18.2% YoY increase

With the NFL and college football in full swing, the slower days of sports betting in the summer are in the rearview mirror. Now that football is dominating the market, sports betting figures are climbing again. Per the Iowa Racing and Gaming Commission (IRGC), Iowa sportsbooks in August saw $169.99 million in total handle. That was a 20% month-over-month increase from the $138.1 million they saw in July. Additionally, operators harvested $15.76 million in revenue from the wagering in August. They did this through a 9.43% hold, 13.5% better than their figures in July 2024. In just 2024, Iowa sportsbooks have driven in $16.3 million in tax contributions.

What Iowa sportsbooks were the most profitable in August?

The $167 million that Iowa saw wagered in August 2024 was an 18.2% year-over-year increase from August 2023 when they saw $141.3 million wagered. That was Iowa’s first month-over-month increase since March. Iowa sports betting apps and online sportsbooks took control of the market in August 2024. They accounted for 93.5% of the total handle, $156.1 million. This was an 18.3% increase compared to August 2023 when they saw $131.9 million wagered. Retail sportsbooks in Iowa generated $10.9 million in handle, up 16% from last year.

Compared to the figures they had in July 2024, the online sports betting handle in Iowa rose by 19.5% while wagers jumped 44.8%. Last month, Iowa sportsbooks paid roughly $151.2 million in winnings. That left them $15.8 million in sports betting revenue, a 16.6% increase from August 2023. In Iowa, there are 18 online operators. Of them all, DraftKings led the market with a $64.3 million handle. FanDuel sportsbooks came in second place with their $36.9 million in handle. Caesar Sportsbooks’ $16.6 million handle was third among all online sportsbooks in Iowa. BetMGM was fourth with $13.5 million and bet365 rounded out the top five at $8.1 million. The IRGC also reported that casini figures were up in August. Nineteen commercial casinos in Iowa generated $144.2 million in adjusted gross revenue. A slight (0.7%) increase from August 2023.