Iowa Sports Betting and Casino Revenues Fall in October

The Iowa Racing and Gaming Commission released its financials in October 2024, and the results are mixed for our best sports betting sites that are partnered with casinos in the Hawkeye State.

Despite the Iowa sports betting handle growing year-on-year by 15.5% to over $294.9 million, sports betting revenues dropped 23.8% to $18.4 million, compared to $24.1 million last October. October revenues also fell by 32.8% from September. 

Things weren't any better on the casino front. While residents don't have access to real-money online casinos, there are plenty of land-based options. Casino revenue fell from $136.3 million to $133.1 million year-on-year. However, the October 2024 amount still marked an uptick from September’s $131.4 million.

Poor sports betting revenues despite high handle

Iowa’s October sports betting handle was the state’s highest since January 2022, when sportsbooks collected over $303.3 million in bets. Interestingly, operators only walked away from that record handle with $18.4 million in revenues, less than the $24.2 million collected last October. The highest handle months aren’t always the best for revenues for Iowa sports betting apps.

There are 19 land-based casinos permitted to provide sports betting through retail and online channels. The operator with the highest handle was Diamond Jo Dubuque, which is partnered with FanDuel Sportsbook. The operator handled over $76.9 million and generated revenues of $5.8 million, the largest amount of any Iowa operator.

Here’s an overview of how much revenue each casino collected:

Two of the 19 casinos in Iowa didn’t make any revenue from sports betting in October and instead lost money. Lakeside Casino lost under $100, while Grand Falls Casino Resort suffered more substantial losses of over $12,000. 

Residents who want to take advantage of the sports betting offerings in the state should make sure to check on Iowa sportsbook promos first.

Casino revenues drop despite consistent holds

Last October, table game revenue was 20.45%, while slot revenue was 9.7%. Meanwhile, in October 2024, those holds hit 21.6% for table games and 9.71% for slots. The drop in casino revenue came from people spending less at casinos, with win per capita dropping from $102 to $99.

The biggest revenue generator was Prairie Meadows Racetrack & Casino, which collected over $18.7 million. Several other casinos, including Ameristar II, Horseshoe Casino Council Bluffs, Riverside Casino, and Golf Resort, generated more than $10 million in revenues. 

October’s numbers are a far cry from previous Iowa gaming financials in 2024, with the state reporting growth in sports betting and casino revenues as recently as August.