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.
