Iowa Sports Betting
Mobile/Online Retail
State Market Snapshot
Authorized Operators
DraftKings FanDuel BetMGM Caesars bet365 Fanatics theScore Bet BetRivers Circa Bally Bet Hard Rock Bet Q Sportsbook SuperBook Betfred
Market Notes
- Handle and growth: Iowa remains one of the stronger per-capita sports betting markets. Full-year 2025 handle reached approximately $2.92 billion (down slightly from 2024’s $2.77 billion in some reports but with strong revenue growth due to better hold). Early 2026 monthly volumes are typical (e.g., January ~$262 million, February ~$214 million), driven by NFL, college basketball, and football. Overall market is mature and competitive with steady growth.
- Market split: Mobile dominates at ~94–96% of total handle across 11–14 online skins (DraftKings, FanDuel, BetMGM, Caesars, bet365, Fanatics, and others). Retail makes up the remaining 4–6% at ~19 casino and racino sportsbooks.
- Hold and tax: Statewide hold has averaged 9–10% recently. Operators pay a low 6.75% tax on adjusted gross revenue (one of the lowest nationally), generating roughly $18.5 million in state tax revenue for FY2025. Funds support infrastructure, general fund, and problem-gambling programs.
- Regulatory note: Iowa Racing and Gaming Commission oversees the market. Senate File 605 (effective January 2026) aligned withholding on large sports betting winnings with federal thresholds at Iowa’s income tax rate. Enforcement against offshore operators continues with new tools under consideration. No major expansion or tax changes in 2026; the competitive multi-operator model remains stable.