Sports betting operators finally cool off in Iowa in October, with USA’s lowest hold

Sports betting operators finally cool off in Iowa in October, with USA’s lowest hold

Article brief provided by Sports Handle
  • Chris Altruda, Sports Handle
November 10, 2022 6:32 PM
  • Chris Altruda, Sports Handle

The Iowa Racing and Gaming Commission reported sports wagering handle of $238.8 million for October, but operators in the Hawkeye State posted the lowest hold of any state nationwide in nearly two months worth of reports.

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The 8% win rate is still above the industry standard of 7%, but was the lowest anywhere since the Nevada Gaming Control board reported a 3.9% hold for the month of August. The month of September, which still needs reports from Illinois and Arizona to complete national tallies, will end up being a historic rout by operators, with the current hold rate at 12.1%. The lowest hold among the 25 operators reporting to date for September was again Nevada, but it was a far more robust 9.3%.