Iowa’s 2022 Super Bowl bets matched 2021 game wagers nearly dollar-for-dollar. But Iowa sports betting customers clearly found other events of interest.
The Iowa Racing and Gaming Commission (IRGC) office reported $215.9 million in bets wagered, which is up $72.3 million from February 2021. Numbers from the year’s shortest month were down from January 2022’s record of $303.3 million in bets.
Again, nearly all of the 50.3% gain from February 2021 to February 2022 came from bets outside of the Super Bowl.
Here’s how we know: The Iowa Gaming Association works with Iowa’s 18 sportsbooks to share an unaudited — but accurate — look at Super Bowl betting volume. Iowa sportsbooks and their casino partners collected $16.275 million in Super Bowl bets. That nearly matched the $16.3 million collected in 2021.
“A relatively flat Super Bowl handle was somewhat disappointing, but otherwise Iowa’s sportsbooks kept chugging along in February,” PlayIA lead analyst Russ Mitchell said. “A surge in betting should accompany March Madness, especially with Iowa and Iowa State likely in the field.
“And sportsbooks can breathe a sigh of relief now that baseball has apparently reached a labor deal.”
Beyond the Super Bowl: A look at February 2022 numbers
February 2022 online and retail sportsbooks in Iowa produced:
- $215.9 million in wagers, $195 million of which came online.
- $8.6 million in revenue was up 11.3% from $7.7 million in February 2021.
- Sports betting generated $593,540 in tax revenue for the state in February.
- Caesars again topped the online market with $61.9 million in wagers, which yielded $1.2 million in net receipts. DraftKings was No. 2 with $52.3 million in online wagering, producing $3.2 million in revenue.
| Licensee | Online Brand(s) | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Diamond Jo Dubuque | FanDuel | Betway | $37,428,222 | $963,736 | 2.6% | $65,052 |
| Isle Waterloo | Caesars | $29,945,898 | $141,116 | 0.5% | $9,525 |
| Diamond Jo Worth | BetMGM | $28,800,284 | $1,501,324 | 5.2% | $101,339 |
| Wild Rose Jefferson | DraftKings | BetRivers | Circa | $25,653,616 | $1,470,087 | 5.7% | $99,231 |
| Prairie Meadows | Caesars | $19,514,978 | $655,266 | 3.4% | $44,230 |
| Wild Rose Clinton | DraftKings | BetRivers | $17,857,261 | $1,136,016 | 6.4% | $76,681 |
| Wild Rose Emmetsburg | DraftKings | $14,073,439 | $926,250 | 6.6% | $62,522 |
| Ameristar Council Bluffs | theScore Bet | Barstool | $11,449,206 | $703,628 | 6.1% | $47,495 |
| Horseshoe Council Bluffs | Caesars | $6,231,193 | $132,748 | 2.1% | $8,960 |
| Catfish Bend | PointsBet | $4,676,782 | $401,380 | 8.6% | $27,093 |
| Isle Bettendorf | Caesars | $4,211,963 | $99,769 | 2.4% | $6,734 |
| Lakeside | Caesars | DRF | $4,077,253 | $155,251 | 3.8% | $10,479 |
| Harrah's Council Bluffs | Caesars | Unibet | $3,193,571 | $110,859 | 3.5% | $7,483 |
| Riverside | Elite | $2,991,789 | -$233,787 | -7.8% | -$15,781 |
| Grand Falls | Betfred | Bally Bet | $2,432,720 | $111,510 | 4.6% | $7,527 |
| Hard Rock Sioux City | Hard Rock | $1,377,111 | $132,440 | 9.6% | $8,940 |
| Rhythm City | Elite | $965,677 | $83,791 | 8.7% | $5,656 |
| Q Casino | Q | $708,661 | $61,429 | 8.7% | $4,146 |
| Casino Queen Marquette | Fubo | $331,690 | $26,285 | 7.9% | $1,774 |
| Totals | $215,921,313 | $8,579,100 | 4.0% | $579,089 |
PlayUSA.com Network analyst Eric Ramsey also tracks the numbers for PlayIA.com:
“Iowa’s sportsbooks have continually outperformed the state’s relatively small population over the last year. The pace of growth will likely slow somewhat in the coming year as the market reaches a more mature state. But the records will still come once football returns this fall.”
Biggest non-football month ahead
The sample size is still a bit small in Iowa’s still-new sports betting industry, but expect one more big month when the March 2022 numbers are released in early April. In fact, March and the NCAA Tournament outpaced February and the Super Bowl last year.
And, it’s not just the men’s field. Iowa and Iowa State have two of the best women’s programs in the country. Sportsbooks have stepped up efforts to add betting lines for their games as well.
The pace of sports betting slows between April and August. Football ushered in a string of betting records last fall.
