Iowa sports betting revenue falls 21.4% year-on-year
The Iowa Racing and Gaming Commission has reported nearly $6.6m in sports wagering revenue for June.
US.- The Iowa Racing and Gaming Commission has reported sports betting revenue of $6.6m for June. That’s a drop of 21.4 per cent year-on-year and 47.6 per cent lower than May of this year.
The sports betting handle was $122.4m, up from $111.2m in June 2021 but down 17.2 per cent from $147.9m in May 2022. Of the bets placed in June, $111.9m was spent online, while the remaining $10.5m was wagered through retail sportsbooks.
Diamond Jo in Dubuque and its FanDuel sportsbook topped the revenue chart with $1.9m. Its $31m handle was also the highest in the state. DraftKings partner Diamond Jo in Worth came second with $1m in revenue and a $15.4m handle. Wild Rose in Jefferson, also a DraftKings partner, posted $746,039 in revenue from $15.7m in player bets.
The handle for the first six months of 2022 stands 50.3 per cent higher than the same period in 2021, while revenue is 25.7 per cent higher despite a 5.7 per cent win rate that is more than one full percentage point lower versus last year.
The Iowa Racing and Gaming Commission reported that regulated sports betting activity in June generated $445,594 in tax revenue, which raised the total for the year to nearly $4.7m. That is nearly $1m more compared to the same time period in 2021.
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