Iowa State was one of the first locations to legalize sports betting in May 2019, and three months following this introductory legislation, they introduced their first online sportsbook. At first, several sports betting operators required customers to complete an account creation in person.
Still, these old methods have faded throughout the years as the practice of online wagering can start and end with an internet connection in today’s climate.
Sports Betting Revenue in Iowa is On the Rise
Since February 2021, Iowa’s sports betting handle has dramatically increased by $215.9 million (50.4%). In addition, the state’s overall sports betting revenue has also increased by 11.7% over the previous twelve months.
Flutter’s FanDuel leads the pack with $1.5 million in a combined online and physical revenue, and DraftKings placed second amongst the top sportsbooks. In-person wagers increased by $20.9 million in February 2022, a significant incline compared to February 2021, 13% less.
Iowa Sports Betting Revenue in March
In 2021, Iowa’s sports betting handle in March was the biggest to date. Naturally, we must consider that the global pandemic impacted the figures from 2020, but 2021 managed to deliver staggering numbers.
Despite the success of 2021, projections are showing that an even larger handle could be reached in 2022 with the return of the NCAA March Madness tournament.
Last year, over $160 million was wagered in Iowa on sports betting during March, and this year is heading towards a higher return with the increase in available sportsbooks. To add, there are more Iowa-based sports teams partaking in post-season tournaments throughout multiple leagues.
FanDuel Enjoys Success in Iowa With Plenty of Competition
Since its inaugural weekend as a sportsbook in Iowa back in 2020, FanDuel has often been ahead of the competition, and it isn’t difficult to see why.
FanDuel is an enticing sportsbook to utilize during March Madness, where numerous welcome bonuses and offers can be found. New customers joining during March Madness are welcomed with $150 in free bets, and you can additionally make use of a standard bonus welcome that offers a risk-free wager of up to $1,000.
And the benefits available don’t just cater to new customers. Existing customers can find daily offers on FanDuel’s promotion page.
With that said, FanDuel isn’t operating at the highest level without fierce competition like BetMGM.
BetMGM partnered with Iowa’s Diamond Jo Worth Casino, and their sportsbook was launched in January 2021. Similar bonuses can be found at BetMGM, like a risk-free bet of up to $1,000 for all new customers.
In attempts to separate themselves from the crowd, BetMGM bonus codes have been made available for existing customers. A weekly $10 free bet is one of the offers available, and with the bonus code, you’re also offered the chance to redeem whatever rewards you receive throughout all MGM properties in the U.S.