Iowa sports betting handle hits $147.9m in May

Players in Iowa spent $147.9m on sports betting in May, up 28.7 per cent year-on-year but down 16.6 per cent from April.

US.- The Iowa Racing and Gaming Commission has reported a sports betting handle of $147.9m for May. That’s a drop of 16 per cent from April’s total of $177.4m but a rise of 28.7 per cent year-on-year from $114.9m in May 2021. Iowa has become the 11th state to surpass $1bn in sports bets in 2022.

Of the total wagered in May, $134.3m was bet online, while the remaining $13.6m was wagered at retail sportsbooks across the state. Sports betting revenue in May was $12.6m, more than double the $6.1m in May of last year and also marginally higher than the $12.4m in April of this year. Online revenue amounted to $11.6m, while retail revenue reached $1m.

Diamond Jo in Dubuque and its FanDuel sportsbook retained the top spot with ease, posting $3.8m in revenue off a $31.6m handle. DraftKings partner Diamond Jo in Worth placed second with $1.8m from a $20.2m handle. Wild Rose in Jefferson, also a DraftKings partner, generated $1.4m in revenue from $18.8m in player bets.

The state collected slightly more than $850,000 in tax receipts for the month, taking the total for the first five months of the year to $4.2m, about $1.1m ahead of the same period in 2021.

See also: Iowa gaming regulator awaits governor’s decision on proposed casino moratorium