The Iowa Racing and Gaming Commission reported a record $25.4 million in adjusted gross revenue claimed by sports wagering operators for September as the house posted a double-digit hold for the third consecutive month.
The revenue figure shattered the previous record of $19.7 million last November, when the $287.2 million handle was a short-lived record. September’s handle surged 63.4% from August, but it was also 4.8% lower compared to the $210.4 million wagered in September 2021. Iowa also became the 12th state in the post-PASPA era to reach $25 million revenue in a month.
The 12.7% win rate is the third-highest in 38 months of wagering in the Hawkeye State and nearly one full percentage point higher than the 11.8% hold for August. Three of the top seven holds in state history have been recorded in the last three months, with September’s hold the highest since a 12.9% mark in September 2019 in the second month of operations.
Bettors have wagered $1.6 billion in Iowa through the first nine months of the year, an increase of 35.2% compared to 2021. Revenue is 61.5% higher at close to $119.9 million, aided by a 7.4% win rate that is more than one full percentage point higher than last year.