Iowa Posts Record $303 Million Sports Betting Handle For January 2022

Iowa State Seal and Attractions
Sports betting at the Buckeye state is off to a strong start in 2022 as the Iowa Racing and Gaming Commission announced on Friday that legal sports betting in the state generated a total betting handle of $303.3 million for the month of January 2022, marking the first time that Iowa has breached the $300 million mark in a month since sports betting was legalized in the state.

The previous monthly record stood at $287.2 million which was made in November 2021. The Buckeye state has produced at least $250 million in betting handle for the last four months.

Iowa Surpasses $3 Billion All-Time Mark

With its January haul, Iowa also became the 10th state to surpass the $ 3 billion all-time total handle in the post PASPA era. Of the state’s total $3.13 billion in handle since sports betting became legal in its jurisdiction, 75% of that were generated in the previous 13 months after the sunset of the in-person registration last January 2021 which allowed residents to open a betting account online.

Legal Iowa sports betting also produced $14.3 million in revenues for the operators, 6.7% better than December 2021’s $13.4 million and January 2021’s 11.3 million. However, the January 2022 figure was well off the record revenue of $19.7 million during November 2021. The reason? Ohio sports bettors gave operators all they can handle last month, allowing only a win rate of 4.7%.

$275 Million Came From Online Wagering

According to the Commission, $275.9 million out of the $303.3 million total was wagered online. That total was 13% better than the $266.5 million wagered in December 2021 and up 102.9% from the $149.5 million generated in January 2021.

Caesars once again was the top performing online sportsbook in the Buckeye state with a total of $112.7 million in wagers taken and which yielded a revenue of $2.8 million for the operator. DraftKings was second with $68.9 million in bets written with $3 million in income. Meanwhile, FanDuel had the highest revenue for th month at $3.5 million.

Circa Sports Goes Live in Iowa Mobile Sports Betting Market

Person Browsing a Sports Betting Site on a Tablet

The Circa Sports mobile betting app went live in Iowa at 10 am CDT on Thursday through a partnership with Wild Rose Casino & Resort.

Wild Rose has three properties in Iowa and these are in Jefferson, Clinton, and Emmetsburg. Circa Sports is tied to the Jefferson property.

Circa Sports becomes the 13th mobile sports betting operator to go live in Iowa, including industry giants FanDuel and DraftKings, and the fifth to launch this year after BetMGM, BetRivers, The ScoreBet, and Bally Bet.

Said Circa Sports CEO Derek Stevens in a statement:

“We are thrilled to expand Circa Sports to Iowa and the Midwest. Iowa marks the third state of operation for our mobile app, and we’ve appreciated the collaboration with Wild Rose and Iowa Racing & Gaming Commission on bringing this launch to fruition.”

Can Be Accessed Anywhere in the State

The Circa Sports mobile app can be downloaded at Circa’s webpage and it allows users to access a mobile sportsbook with both completed and live odds 24/7 for as long as they are withing the Iowa State boundaries. The app also has a futures bet service and two-sided Yes-or-No futures betting markets. Funds can be transferred using wire transfer, ACH, and Sightline.

In a press release from Circa Sports, the company boasted the best customer service support, highest betting limits, and the lowest hold percentages of any mobile sportsbook provider in the State. Circa now has presence in three different states after launching in Nevada and Colorado earlier this year as it pursues an aggressive expansion bid in the United States.

Iowa Top 10 in Betting Handle

Since allowing in-person registration for mobile betting access at the start of the year, Iowa has stayed in the Top 10 states when it comes to betting handle. The Hawkeye State has surpassed the $100 million monthly betting handle mark except July 2021. It’s biggest month this year was March when it generated $164.1 million.

Despite the presence of industry giants, newcomers have been able to get a good slice of the Iowa pie. BetMGM has surpassed the $60M total handle via its partnership with Diamond Jo Casino in Worth. The ScoreBet has generated at least $1 million in handle for six consecutive months. Meanwhile, BetRivers- which is also a skin of Wild Rose, has racked up a total betting handle of $3.2M in two months.

WynnBET Partners With Elite Casino Resorts For Sports Betting Market Access to Iowa

Wynn Resorts Las Vegas
Last Friday, WynnBET secured approval for the launch of the company’s betting app in Iowa, making it the latest state ready to host Wynn Resorts’ online gaming platform. The access was made possible via a partnership with Iowa-based Elite Casino Resorts.

Elite Casino Resorts owns and operates three premier destination casino resorts in the Hawkeye State including the Riverside Casino and Golf Resort which is located just outside of Iowa City.

WynnBET is operated by Wynn Interactive, a joint venture of casino operator Wynn Resorts and U.K. based BetBull. 71% of the partnership is owned by Wynn Resorts, which operates casinos in Las Vegas, Boston, and Macau. According to its third-quarter earnings conference call, Wynn Resorts has already invested $80M in Wynn Interactive.

Access to Seven States

WynnBET offers casino and sports betting apps which are designed to deliver the same quality of service and guest experience that Wynn Resorts is known for. With its entry in the Iowa market, WynnBETnow has market access to a total of seven states.

It is currently operational available in New Jersey and Colorado, and will soon open its doors to online players in Michigan. WynnBET has also secured access to the markets in Indiana, Nevada, and Massachusetts before recently adding Iowa to its list of markets. It has also submitted applications for online gambling licenses in Tennessee and Virginia.

Fast-Tracking Discussions

Aside from these markets, the gambling company is fast-tracking discussions in several dozen other larger jurisdictions which have yet to be announced. The current and prospective market access would enable WynnBET to reach an estimated two-thirds of the total online gambling community in the United States.

Sports Betting is currently legal in a total of 19 states plus Washington D.C. with another six more states expected to launch this year. Additional states have expressed their interest in the legalization of sports betting during their upcoming legislative sessions.