Retail sportsbooks increased their revenue after a poor October showing.
October was a poor sports betting month in the Hawkeye State. The hold percentage came in at a low 6.2% and, because of that, the operator revenue fell. But luckily for the books, November broke that trend. a monthly handle of $315.2 million in November, nearly 7% higher than October and 8.8% better than November 2023.
Their strong revenue numbers didn’t just break their monthly trend, year over year their net receipts and hold percentage both doubled. November 2023 brought in just $14 million from a stunningly low 4.8% hold. Its no surprise that people prefer to bet online, versus driving to a retail location. But at least in the month of November, the brick-and-mortar locations showed their potential for revenue.
Last year showed the same pattern, the retail locations combined for $23.8 million in handle, 8.2% of the statewide action, but they contributed 10% to the overall revenue numbers. handle and revenue compared to the previous month, but it was the online operators who grew. Each of the top seven online books reported higher handle and revenue for the month. The casino side is murkier.
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