Iowa Sportsbooks Begin 2025 Strong Despite Slight Dip in Handle

In 2025, Iowa’s sportsbooks saw a remarkable increase in revenue, despite a modest decrease in total wagers from December. The Iowa Racing and Gaming Commission reports that last month, wagerers wagered $289.7 million throughout the state.

January has always benefited from the football season’s momentum. But the trend has changed from prior years, when the first month of the year saw consistent improvement. Iowa’s sports betting handle fell in January for the second year in a row. Operators’ revenue increased significantly in spite of this.

Sportsbooks posted a 9% hold, more than doubling their net receipts from December to $26.2 million. This is a major improvement from the previous month’s 4.5% hold.

Retail Sportsbooks Struggle, While Online Betting Thrives

While the online betting sector thrived, retail sportsbooks struggled to gain traction. They accounted for less than 1% of total wagers and held only 3%, generating $687,000 in net receipts. The most active retail sportsbook was Diamond Jo Casino, near the Minnesota border, with a $6.8 million handle.

Online operators dominated the market, with DraftKings leading the way. It recorded nearly $100 million in wagers and $10 million in net revenue. FanDuel followed, handling $74.4 million and earning $8.7 million. Caesars, bet365, and BetMGM rounded out the top five.

Though still behind industry giants, Fanatics and ESPN Bet saw positive momentum in January. Among operators with at least $3 million in bets, they were two of the three to report an increase in handle. Fanatics doubled its revenue, while ESPN Bet’s earnings surged twentyfold.

Here’s how Iowa’s top sportsbooks performed in January 2025:

As the year progresses, Iowa’s sportsbooks will look to maintain this strong start, especially with major sporting events on the horizon.