Adapting a famous line from a movie set in Iowa, sportsbooks in the state proved that “If you offer it, they will come.”
Iowa sports betting handle for July was $10 million higher than June’s. The single biggest factor leading to that gain was the return of domestic sports. To what extent the growth continues depends on the state of sports and the pandemic going forward.
Iowa sports betting handle numbers for July
Altogether, the state’s online and retail sportsbooks collected over $22.85 million in wagers during July 2020. That’s an increase of about 44.3% from June.
Win for July came to $2.24 million, which is an increase of about 72.4% from the previous month’s total of $630,740. IA sportsbooks paid $151,918 in taxes last month.
Once again, online sportsbooks and William Hill dominated the market share. A breakdown, by operator, is as follows:
|Licensee||Online Brand(s)||Handle||Online Handle||Retail Handle||Revenue||Taxes (6.75%)|
|Prairie Meadows||William Hill||$7,294,327||$6,920,740||$373,587||$529,541||$35,744|
|Wild Rose - Jefferson||DraftKings||$2,802,119||$2,777,934||$24,185||$164,536||$11,106|
|Isle - Waterloo||William Hill||$1,929,869||$1,895,741||$34,128||$151,166||$10,204|
|Q Casino||Q Sportsbook||$1,071,133||$684,084||$387,050||$91,714||$6,191|
|Diamond Jo - Worth||--||$1,007,110||$0||$1,007,110||$218,125||$14,723|
|Isle - Bettendorf||William Hill||$953,132||$836,188||$116,945||$83,491||$5,636|
|Wild Rose - Clinton||DraftKings||$873,193||$852,086||$21,108||$82,958||$5,600|
|Hard Rock||Hard Rock||$680,675||$548,928||$131,748||$60,499||$4,084|
|Wild Rose - Emmetsburg||DraftKings||$321,909||$281,800||$40,109||$61,565||$4,156|
|Diamond Jo - Dubuque||--||$267,034||$0||$267,034||$91,879||$6,202|
Although a third consecutive month of growth is good news, this total still pales in comparison to what bettors in the Hawkeye State have accomplished. In February, for example, Iowa sports bettors wagered more than $56.92 million on sporting events.
For sportsbooks to flirt with those numbers again, the sporting event calendar will need to stay full. Right now, that looks like a precarious position.
MLB’s inconsistency, college football postponement diminish growth
While the NBA restart, NHL playoffs and WNBA regular season are moving forward within “bubbles” without a hitch so far, the same can’t be said for college football and the MLB.
For example, the St. Louis Cardinals have only played five games since the 2020 season start because of continued positive COVID-19 tests by players and other staff.
Additionally, FBS collegiate conferences, like the MAC and the Mountain West, have announced that they won’t play sports this fall. If there is any football in those conferences, it will take place in the spring.
The Big Ten announced on Aug. 11 the postponement of its fall football season. The Big 12 has shifted to a conference-only schedule so far. If that happens, it could be significant for Iowa sportsbooks.
In IA, the closest thing to a major professional sports team is the Triple-A Iowa Cubs. That means Iowa and Iowa State football and men’s basketball are big-ticket events for sports betting.
Not having college football would put an even bigger premium on NFL games for sportsbooks this fall. So far, the NFL has canceled preseason games but plans to play the regular season.
The reason for concern is that unlike the NBA and NHL, and like MLB, the NFL plans to have teams travel to play games in the usual venues. The NBA and the NHL have “bubbles,” where all games take place in one or two “hubs” where team personnel are sequestered.
IA sportsbooks need the NFL to be more successful at protecting its players than MLB has been because the cancellation of NFL games could stunt their recovery.
Through July, however, the sports betting industry in IA seems to be on the right track.