Iowa sports betting revenue grows 11.4 pct
Despite having the total handle fall 2.1%, Iowa sports betting reached a US$3.2 million revenue, up 11.4% year-on-year.
US.- The gaming segment continues to grow and Iowa sports betting posted a revenue increase in January. The US$3.2 million figure meant an 11.4% increase year-on-year, even despite a 2.1% drop in total handle.
Retail sportsbooks posted a 76.3% increase from December and reached US$1.9 million. That vertical also overcame a total handle drop of 6.3% to US$24.2 million.
The online sports betting vertical in Iowa, however, fell 25.8% US$1.4 million. Players bet a record US$33.8 million online, but revenue was still the lowest since the segment debuted in the state.
The struggle in December
The Iowa Racing and Gaming Commission released the financial results from December, where the market posted a 19.3% decline from November. Sports betting handle also declined by 0.1%.
While the percentage is lower than November’s, this is the lowest that Iowa has registered in a full month since it kicked off its sports betting operations. Sports betting handle was also different from the previous month, as it totalled a 0.1% decline but a successful month in winnings.
Revenue from online betting operations rose 20.5% to US$1.8 million and was bigger than retail. Sports betting handle from online operations was US$33.5 million, also a 0.6% decrease from November. Retail revenue fell 49% to US$1.1 million.
