'Mattress Mack' Flattens Iowa's November Sports Betting Revenue

'Mattress Mack' earns $10 million from Betfred and unibet. Iowa's sports betting revenue for November was $5.8 million. The state's revenue was its lowest since September 2021. However, the state made a profit of $1.6 million thanks to adjustments made by operators. Iowa cleared $2 billion in handle for the calendar year and will surpass $ 5 billion all-time in December.

Betfred and Unibet lost a lot of money in November. McIngvale's bet and payout in July hurt Betfred's bottom line. Uniberet has lost more than $5 million since launching operations in September 2021. Barstool Sportsbook and WynnBET in the Pelican State paid out more that $22 million. Caesars Sportsbooks and BetMGM in Nevada made a combined $40 million in bets.

FanDuel has a double-digit hold of 11.6%. Mobile operators had a positive win rate of 1.7%. DraftKings set an all-time state high for handle for the second consecutive month at $79.8 million. Caesars was a comfortable third for both handle and revenue. Barstool Sportsbook had 4% hold. It needs $10.9 million handle in December to reach $100 million since launch.

Operators at Iowa's 18 sportsbooks reported close to $24 million handle and $1.9 million in revenue in November. Hard Rock in Sioux Falls had a 21.7% win rate that resulted in close $265,000 in winnings. Diamond Jo in Worth paced all retail books with slightly more than $410,00 in revenues. Ameristar Casino in Council Bluffs led all venues in handle at $6.3 million. Isle Casino reported a monthly loss of $16,940 on $290,373 wagered. Casino Queen reported $4,513 loss due to Fubo Sportsbook's closure.