Iowa sports betting handle decreases in May
Iowa’s sports betting handle was 14.6 per cent behind the $172.6m registered in April.
US.- Iowa’s sports betting handle was $147.7m in May, marginally down from $147.9m in May 2022 and 14.6 per cent behind $172.6m registered in April this year. It’s the second consecutive month of decline. Of the total, $135.2m was bet online and $12.5m at retail sportsbooks.
Revenue reached $16.6m, up 31.8 per cent from $12.6m in the same period in 2022 and up 17.7 per cent compared to April 2023’s $14.1m. Some $15m of monthly revenue came from online sports betting, while $1.6m was attributed to retail betting.
Diamond Jo in Dubuque and its FanDuel sportsbook registered $4.5m in revenue from $36.5m in bets. Wild Rose in Jefferson and DraftKings recorded $2.3m in revenue from $22.3m. Diamond Jo in Worth, also partnered with FanDuel sportsbook, reached $2.1m in revenue and $17.3m in bets.
Sports betting tax amounted to $1.1m, while players won $131.1m.
bet365 debuts in Iowa
Iowa sports betting market has added another sportsbook. Bet365 secured market access through an agreement with the Casino Queen Marquette, one of Iowa’s riverboat casinos. It’s the operator’s fifth US state after launching in Colorado, New Jersey, Ohio, and Virginia.
In January, the venue received approval from the Iowa Racing and Gaming Commission to move from the Mississippi River to land. Casino Queen Marquette also owns the Q Sportsbook app.
