Iowa sports betting handle comes in at $109.7m in July

The handle was almost level with last year’s figure.

US.- Iowa’s sports betting handle totalled $109.7m in July, up 0.7 per cent from $108.6m in the same month in 2022 but 5.4 per cent lower than June of this year ($115.5m). It was the fourth consecutive month of spending decline.

The online handle was $101.3m in July. Retail bets totalled $8.4m. Sports betting revenue was $10.6m, down 5.4 per cent from July 2022 ($11.2m) but up 49.3 per cent from June 2023 ($7.1m). Of the total, $10.1m was generated online and $475,314 from retail betting.

Diamond Jo in Dubuque and its FanDuel sportsbook reported $3.3m in revenue and a $25.5m handle. Wild Rose in Jefferson and DraftKings reported revenue of $1.5m from $15.8m in bets. Diamond Jo in Worth, also with FanDuel, registered $1.2m in revenue and a $9.9m handle.

Sports betting taxes totalled $713,772. players won $99.1m.

Iowa’s sports betting market added a new sportsbook in June as bet365 debuted in the state. bet365 secured market access through an agreement with the Casino Queen Marquette, one of Iowa’s riverboat casinos.

Full-year Iowa Lottery sales reach $481.5m

The Iowa Lottery has registered a record $481.5m in lottery sales for the financial year 2022-2023 ended June 30. The lottery awarded $305.3m in winnings for players and a record $108.2m in proceeds to state causes.

Sales increased 11.3 per cent compared to 2022’s total of $432.7m. Proceeds to the state increased by 10.5 per cent. The top seven stores for retail sales were all Hy-Vees, with six of them in Cedar Rapids. The biggest prize won in the last year was a $40m Lotto America jackpot. There were seven other million-dollar winners.