The Iowa Racing and Gaming Commission has reported a significant increase in sports betting revenue in October, with a year-on-year growth of 60.8%. This growth is primarily attributed to the strong performance of online sports betting, which saw a remarkable 76.1% increase in amounts wagered compared to October 2019.
In total, $81.9 million was wagered in the state during the month, breaking the previous record set in September. While retail handle experienced a 21.6% increase from the previous year, reaching $25.0 million, online wagering more than doubled to $56.9 million – a 13.7% improvement compared to September 2020.
After payouts totaling $72.8 million, the resulting revenue stood at $9.1 million. Notably, online sports betting revenue showed a significant surge of 140.2% year-on-year, totaling $6.4 million, while retail wagering revenue declined by 9.8% to $2.7 million.
William Hill’s sportsbook at Penn National’s Prairie Meadows Racetrack & Casino emerged as the market leader in terms of both handle and revenue. Customers wagered $19.8 million at the property and via its app, with $18.4 million of wagers placed online, leading to a revenue of $2.3 million.
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