The report from the Iowa Racing and Gaming Commission clearly shows that while retail gambling is suffering, playing online via smartphones is breaking records.
Iowa Reports Substantial Growth In Online Sports Betting via Smartphones In January
Last updated on February 10th, 2024
The Iowa Racing and Gaming Commission (IRGC), issued a report where the authority reveals a rather impressive growth when it comes to online sports betting in January 2022. Moreover, as per the report by IRGC, this is a whopping 102.9% increase in sports betting activity, in comparison to the same period back in 2021.
In particular, the Iowa Racing and Gaming Commission reports a total of $303.327.688 million in sports betting wagers solely for January of 2022. Just for comparison, in January 2021, that number was $149.5 million.
Interestingly, the majority of the wagered amount is directly from mobile sports betting activity. This amounts to $275.9 million specifically from betting via smartphone/mobile devices. Speaking of, retail sports betting, on the other hand, reports a slight drop when compared to 2021. In particular, land-based betting dropped by 4.5% in 2022, reporting $27.5 million.
Furthermore, the majority of online sports betting via smartphones was conducted at the Caesars Sportsbook, where players wagered $112.7 million. Second place is DraftKings which reported $68.9 million in smartphone bets, and coming in third is FanDuel with $44.1 million for the same category.
Speaking of retail sports betting, the numbers show a completely different picture. In this category, FanDuel is first with $8.7 million in smartphone wagers, second place is for Penn National’s Ameristar II with $5.4 million and Caesars Sportsbook is third with $3.9 million in sports betting wagers via mobile.
According to the Iowa Racing and Gaming Commission, the total revenue from the big growth of online sports betting is $14.269.557 million as of January 2022, with a 4.7% player win rate. Consequently, the taxes that the sports betting operators from Iowa had to pay for January of 2022 amount to $964.525.
Considering that the majority of players switched from retail to online gambling as a result of the pandemic, it is no surprise whatsoever that pretty much every online gambling operator in the industry is reporting strong numbers.
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