Even with the seasonal summer slowdown, Iowa keeps setting new sports betting benchmarks.
The Iowa Racing and Gaming Commission (IRGC) recorded a record-breaking number when it completed its audit of June 2022 sports betting numbers on Friday.
Iowa casinos and their 18 sportsbook partners collected $122.4 million in sports bets for the month. That is down 17% from May’s $147.9 million.
But here’s how June 2022 compares with the two previous Junes in Iowa sports betting history.
- June 2020 — $12.7 million. The pandemic pulled a vast majority of sporting events off the betting menu, of course. In Iowa, customers had to begin the registration with an in-person visit to an Iowa casino as well.
- June 2021 — $111.2 million. Customers could sign up for sportsbooks from home starting in January 2021. Baseball, golf and motorsports returned with full schedules.
- June 2022 — The $122.4 million in bets is a 10% increase from June a year ago.
Highlights from the June numbers
- Iowa passed the $4 billion mark all-time with June’s numbers. The first sports bets in Iowa were collected in August 2019.
- Sportsbooks passed the $250 million revenue threshold in the same amount of time.
- January 2022 still holds all-time record for money wagered (“handle”) in a calendar month, with $303 million in bets placed.
From Eric Ramsey an analyst for the PlayUSA.com Network:
“We’re starting to see Iowa’s sports betting industry approach a state of relative maturity, with operators settling into their positions on the leaderboard and year-over-year growth beginning to taper off. Almost three years into this regulated era, the state has emerged as an underappreciated hotbed for sports betting, consistently punching above its weight in volume and revenue per-capita.”
Sports betting patterns across the country are like a roller coaster.
Summer months are the dip before a big climb. Iowa is no exception.
History tells us July also will be one of the slower months in sports schedule. Iowa casinos and sportsbooks should see an uptick in August. Then, September should be huge with the return of the NFL and colllege football.
Iowa sports betting numbers for June 2022
The casinos reported $6.6 million in sports betting net receipts. The state collected $446,594 in taxes for the month. Iowa bettors place about 85% of the month’s sports bets online.
Usually about 90% of bets are placed online, so this may be a sign that customers are visiting Iowa casinos more often as they travel the state over the summer months.
|Diamond Jo Dubuque||FanDuel | Betway||$30,962,677||$1,931,322||6.2%||$130,364|
|Wild Rose Jefferson||DraftKings | BetRivers | Circa||$15,652,728||$746,039||4.8%||$50,358|
|Diamond Jo Worth||BetMGM||$15,432,001||$1,028,916||6.7%||$69,452|
|Wild Rose Clinton||DraftKings | BetRivers||$11,704,188||$614,849||5.3%||$41,502|
|Wild Rose Emmetsburg||DraftKings||$8,465,894||$480,897||5.7%||$32,461|
|Ameristar Council Bluffs||theScore Bet | Barstool||$6,638,756||$290,311||4.4%||$19,596|
|Horseshoe Council Bluffs||Caesars||$3,566,815||$217,024||6.1%||$14,649|
|Harrah's Council Bluffs||Caesars | Unibet||$2,291,979||$134,759||5.9%||$9,096|
|Grand Falls||Betfred | Bally Bet||$874,761||-$14,486||-1.7%||-$978|
|Hard Rock Sioux City||Hard Rock||$721,042||$44,139||6.1%||$2,979|
|Lakeside||Caesars | DRF||$357,341||$66,394||18.6%||$4,482|
|Casino Queen Marquette||Fubo||$85,334||$12,975||15.2%||$876|
Four sportsbooks account for nearly 90% of the sports betting market in Iowa. The top three are in a pretty tight race for the top position. The June 2022 figures exclude sports bets at brick-and-mortar casinos:
- DraftKings — $32.3 million
- FanDuel — $30.6 million
- Caesars — $22.7 million
- BetMGM — $12.7 million
This is the final month that theScore Bet will be included in monthly numbers. Penn National Gaming shut down the app at the end of June to focus on its Barstool branded sportsbook in the US market.
Looking ahead, July bets include MLB’s All-Star Game and Home Run Derby, the Grand Prix IndyCar races in Iowa near the end of the month and The 150th Open Championship at St. Andrews in Scotland.
The state could see the arrival of new sportsbooks as companies try to find a seat at the table in time for football season. Each sportsbook needs a partnership with an Iowa casino. The contract has to be approved by the IRGC.