Wagers continue to increase
Iowa is on a sports betting hot streak. Players continue to place wagers at a rapid pace, helping December handle totals come in at a record high for the fourth month running. Sports betting handle reached $104.8m in the final month of 2020, with the majority of bets coming from online players.
retail handle set a record at $26.7m
A total of $7.5m in revenue came from the record-breaking handle, representing more than a 76% increase year-on-year. Online revenues came in at $4.6m. Retail handle set a record at $26.7m, which is a 3.5% increase from December 2019.
Sports betting handle breakdown
William Hill was the market leader once again, operating from the Prairie Meadows Racetrack and Casino. The operator earned $1.7m in revenue from wagers of over $22m. The majority of revenue came from online gaming, at $1.5m.
The second-highest earner for the month was the Ameristar II Casino. Sports fans wagered $5.8m, bringing in $771,345 in earnings.
FanDuel earned just over $750,000 from $10.9m in wagers placed at its sportsbook at Diamond Jo Casino. The operator’s online wagers came in at $6.3m, with just under $600,000 in earnings.
The Wild Rose Casino saw its DraftKings sportsbook players post $13m in bets with $696,934 worth of revenues.
In-person registration requirement ends
The record high handle comes in the month before the state did away with its in-person registration requirement for online sports betting accounts. When sports betting began in the state, players had to visit a physical location to sign up for an account. On January 1, that requirement expired, allowing players to create accounts online. Operators expect their totals to only increase from here.
With the change, several operators began offering online betting services this month. PointsBet launched a mobile and digital option. The company is partnered with the Iowa Hawkeyes men’s basketball team and plans on working on promotions with star player Luka Garza.
opportunity to place bets and earn rewards that can be used at MGM casinos
BetMGM also launched an app when the New Year began. The operator connected the MGM Resorts M life Rewards program to the app, which gives players the opportunity to place bets and earn rewards that can be used at MGM casinos across the United States.
William Hill US was already in the online sphere but decided to offer an enhanced version with the launch of remote signups. The operator provides both an app and website for sports betting.