Iowa sports betting reach all-time-high in 2021 with $2.04B, poised for US top ten

Iowans have shattered sports gambling records in the state of Iowa by wagering $2 billion in 2021, showing a significant increase from 2020 when Iowans placed approximately $575 million worth of sports bets. Most of this growth was driven by the online vertical.

“We saw twice as many operators enter the market in 2021,” said Brian Ohorilko, an administrator with the Iowa Racing and Gaming Commission, as reported by the KCGR. “It’s not surprising, but what is surprising is how much of an increase we’ve seen from 2020 to 2021.”

According to data released by PlayIA, in December, bettors poured $266.5 million in wagers in Iowa’s online and retail sportsbooks, up 154.3% from $104.8 million in December 2020. December’s wagers fell short of the record $287.2 million wagered in November, as the volume of betting slipped to $8.6 million per day over the 31 days of December from $9.6 million per day in November.

Revenue was down in December, too, dropping 32.3% to $13.4 million from the record $19.7 million in November. Still, December’s revenue was the second-highest in state history and up 77.4% over the $7.5 million produced in December 2020. December’s win yielded $957,637 in tax revenue for the state, as informed by PlayIA. 

In 2021, Iowa sportsbooks generated:

• $2.04 billion in online and retail wagers, up 255% from $575.2 million in 2020. That will likely place Iowa 10th among legal sports betting jurisdictions in the U.S.
• $1.8 billion in online wagers alone, up 343.7% from $405.2 million in 2021.
• $114.5 million in net receipts, up 175.2% over $41.6 million in 2020.

$241.7 million, or 90.7%, of December’s bets, were made online, producing $11.9 million in revenue. Retail betting generated the remaining $24.8 million in wagers, which produced $1.5 million in net receipts.

In December, Caesars took its familiar position atop the online market with $90.1 million in wagers, which yielded $3.6 million in net receipts. DraftKings was next with $72.3 million in online wagering, producing $3 million in revenue.

Diamond Jo Worth led the retail market with $6.2 million in bets, yielding $271,676 in revenue. Ameristar Council Bluffs was second with $5.5 million in wagers, which led to $384,513 in net receipts.

“Iowa’s market hasn’t reached maturity either. Sportsbooks continue to expand their reach to new customers as potential bettors become more comfortable with the idea of legal sports betting. And as Iowa bettors become more familiar with diverse forms of betting such as in-game wagering, the market should continue to grow,” stated Russ Mitchell, lead analyst for PlayIA.com.