IOWA, MICHIGAN SET SPORTS BETTING RECORDS IN NOVEMBER

Dave Schwab Sports Betting Expert

3 minute read

IOWA AND MICHIGAN SET SPORTS BETTING RECORDS IN NOVEMBER

Iowa and Michigan are two of the biggest Midwest markets for legal sports betting in the US. Each state has been on a roll since September with one record sports betting handle after another over the past three months.

Home to popular US-based sportsbook operators such as FanDuel, DraftKings and BetMGM, each state has made its mark in the legal US industry.

Iowa ranks 31st in the nation in population with 3.27 million residents. However, the Hawkeye State is much higher on the list when it comes to its monthly volume for legal sports betting.

This three-month run started in September with both college football and the NFL back on the betting board. October’s betting handle received a boost with the start of the new season in the NBA and NHL.

Building on that momentum, college basketball pushed the monthly betting volume in November to a new state record of $287.2 million. The previous record was the $280.9 million handle the previous month.

Even more impressive is the 229.5% gain over the monthly betting handle last November. Iowa is home to 17 US-based sportsbook operators with four more joining that extensive list over the next few months.

Based on the fiscal year starting in July, the total betting handle in Iowa stands at $975 million for the first five months. This pace puts Iowa on track to bring in more than $2 billion in betting volume for the full 12-month timeframe. This is also one of the most successful states offering online sports betting through mobile sportsbook apps. Close to $261 million of Iowa’s 287.2-million handle in November was booked online. This reflects an impressive 317.2% spike from the $62.4 million wagered online last November.

Michigan is another state with legal sports betting on a three-month tear. The Michigan Gaming Control Board released its sports betting figures for November with the total handle topping out at $500.5 million.

This puts the state in elite company when it comes to the legal US market. Michigan became one of five states to top the half-billion mark in monthly sports betting volume. The other four include New Jersey, Nevada, Pennsylvania and Illinois.

The previous monthly record was $497.6 million which was set in October. Almost $474 million of November’s sports betting handle was booked online. Retail sportsbooks in the state accounted for the other $27 million.

The total revenue from November’s handle broke records as well. In-state operators earned $58.8 Million for a hold well over 10%. The previous record for revenue was $35.2 million set in March of this year. Online sportsbook operators earned $34.5 million in November with retail books taking in $4.3 million. With a full complement of sports in season, Michigan sportsbooks have made the most of the opportunity.

In-state professional teams in season right now include the NFL’s Detroit Lions, the NBA’s Detroit Pistons and the NHL’s Detroit Red Wings. College football’s Michigan Wolverines, out of the Big ten were a huge draw in their run to this season’s NCAAF four-team playoff.

Written by Dave Schwab, our US Sports Betting Industry Expert. You can learn more about our author's expertise here.

Dave Schwab

Dave Schwab has been covering the sports betting industry for the past 12 years as the main focus of his specialty marketing company for online content. This endeavor followed a previous career in the field of sales and marketing in the wholesaling sector.Most of his weekly pieces focus on the rapidly expanding legal US sports betting industry. However, he still does extensive work covering betting angles that can provide a competitive edge to avid players. Dave believes that it is always a challenge to take past results and current form to try and correctly determine a future result. Sports brings out the unpredictability in what should be a fairly predictable outcome based on the stats, facts and recent trends in a particular matchup. More from Dave Schwab