Iowa set its highest ever monthly sports betting handle back in September, with $210.4 million in handle. However, the state’s betting industry continues to perform well, setting a new record in handle for the second consecutive month. Iowa sets a new sports betting handle record this October, with a $280.9 million total monthly handle. This is 33.5% higher than September’s.
Many bookie pay per head providers are seeing their clients enjoy higher betting handles since August, and the numbers continue to increase industry-wide. This is typical during this part of the year, when the biggest collegiate and professional sports tournaments happen. In August, you have the peak of the MLB, along with the beginning of NCAA basketball during the last week. September brings in football season for both NCAA football and the NFL. Meanwhile, October is when the NBA and the NHL seasons will begin.
Iowa Sets a New Sports Betting Handle Record
Sports betting software from state operators processed $250 million worth of wagers in October. This is 34% higher than September’s $186.5 million handle. It is also a very high 339% increase from October of last year’s $56.9 million mobile handle. This is also a new record for Iowa, and the second consecutive monthly record set. Meanwhile, the sports betting revenue for the state is at $6.6 million. This is 14.7% higher than September’s $5.7 million. However, this is 27.8% lower than last year’s revenue of $9.1 million for September.
Both brock-and-mortar and online sports betting are legal in the state. Given that majority of the wagers come in from online sportsbooks, many who use the best pay per head bookie service should remain optimistic that the sports betting in the US is doing well. In fact, many industry experts are anticipating more records to be set in the coming months. In September, 8 states have reported setting new sports betting records. Iowa is the first to announce their new record for October.