Prairie Meadows Sportsbook Boosts Iowa Sports Betting Revenue

• Iowa launched its first sportsbook on August 15, 2019.
• Every sportsbook increased their betting handle from August to September.
• Prairie Meadows accounted for 37% of the state’s betting handle.

DES MOINES, Iowa – Iowa’s monthly sports betting revenue for September was released by the Iowa Racing and Gaming Commission last week.

The report detailed the betting handle, revenue, and tax contributions from 15 licensed sportsbooks in the state.

Every sportsbook watched their betting handle increase from month to month, but none were as impressive as Prairie Meadows Casino. This William Hill sportsbook collected $14.53 million in wagers or 37% of the state’s combined monthly total ($38.53 million).

No other sportsbook saw more than $3.8 million as a betting handle, but ten did break the $1 million mark. Even further, seven of those ten surpassed the $2 million mark. With a handle so high above the average, Prairie Meadows also took in the most revenue ($1.47 million) before contributing nearly $100,000 to the state.

The total revenue kept by Iowa sportsbooks in September was $4.96 million, or 12.86% of the betting handle. This is a rather high hold percentage, but following suit of other state’s launches and opening months, the sportsbooks’ holds tend to decrease as time goes on.

Isle Casino Bettendorf seemed to bring in the most successful bettors, as their gamblers walked away with 92.6% of all action – the highest amongst the 15 Iowa sportsbooks. The other casinos that had to deal with quality bettors were the Isle Casino Waterloo and Riverside Casino, which both kept less than 10% of their monthly betting handle.

Mobile betting continues to be the talk of the state, though, as 56.6% of all action occurred online. This comes with only seven books having an online betting app, indicating the handle and percentage of online bets will increase when more Iowa sportsbooks launch their online platforms.

Iowa sports betting is still in its infancy stages, but launching during the NFL season was the best decision for the bettors, books, and state coffers. Expect to continue to see records being broken in the following months, as the last few casinos are launching their sportsbooks.

News tags: Iowa | Iowa Racing and Gaming Commission | Isle Casino Waterloo | Prairie Meadows Casino | Riverside Casino | William Hill