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.