In January, total consumer spending in Iowa reached $259.5m, showing an 11.1% increase compared to the previous year. However, it was 8.2% lower than the spending in December, which was $282.7m.
The majority of the spending on sports betting in Iowa was done online, with $238.4m wagered through online platforms. The remaining $21.1m was bet at retail sportsbooks. Compared to December, the revenue dipped by 8.2% in January.
In terms of revenue, January generated $22.1m, which was 33.9% higher than January of last year but 16.0% lower than December’s revenue of $26.3m. The online wagering segment accounted for $20.5m of the total revenue, while the retail segment contributed $1.5m.
FanDuel and Diamond Jo Dubuque continue to be the leading operators in Iowa. In January, their partnership generated $8.0m from $68.0m in bets. DraftKings and Wild Rose Jefferson followed as the second-place operator with revenue of $3.1m in January. The betting activity through their partnership reached $39.2m.
Wild Rose Clinton, another DraftKings partner, secured the third spot in terms of revenue with $2.7m, and the betting activity for January was $29.8m. Wild Rose Emmetsburg, also partnered with DraftKings, generated $2.4m in revenue from $24.8m in bets during the month.
During January, players won a total of $237.4m, with $217.9m won through online betting and $19.5m won at retail sites. The tax paid for January amounted to $1.5m.
In February 2024, Fanatics announced the launch of its sportsbook in Iowa, replacing the PointsBet brand. The existing PointsBet retail sportsbook at Catfish Bend Casino is now known as the Fanatics Sportsbook. As part of this project, new self-service betting kiosks from Suzohapp have been installed. Fanatics Sportsbook is now available in 12 states across the US.
In January, Catfish Bend Casino, the site of the rebranded Fanatics Sportsbook, generated $311,186 in revenue from $3.7m in bets.
