Iowa Sees Record-Setting Sports Betting Handle in November

The Hawkeye State’s sports betting market was busy in November.

The Iowa Gaming and Racing Commission reported a record-setting monthly handle of $315.2 million in November. This total was over 6% higher than the month before and 8.8% higher than November 2023. Sportsbook operators had a winning month, with their revenue up 63% compared to October and 113% compared to the same month last year.

Bettors in Iowa had a rough month, leading to a jump in hold for operators. That means more taxable revenue for the state, which brought in over $2 million for November.

While the state doesn’t have an NFL team of its own, it hasn’t stopped residents from betting on the league. Many football fans in Iowa cheer for neighboring teams from the NFC North, which includes three teams with nine wins. Their Iowa fans are flocking to sportsbooks to wager on their favorite team as the season enters its final few weeks of the regular season.

The impressive month has pushed the state’s all-time sports betting handle to over $10 billion, generating over $50 million in tax revenue.

DraftKings Leads the Way

November’s record-setting handle was driven by online sports betting, which accounted for $294 million in wagers for the month. 

DraftKings led all online sportsbooks with a handle of $115.8 million, the highest it had seen in the state, leading to just over $12 million in overall revenue.

FanDuel also set a monthly record in Iowa, but the $81.1 million handle was well below its rival. Caesars was a distant third with $30.4 million in wagers. BetMGM was in fourth, followed by bet365 and Fanatics.

BetRivers had the worst luck in November, seeing over $3 million in wagers but generating just $104,000 in gross gaming revenue.