Iowa Sports Betting Revenue Keeps Climbing Despite Sleepy Calendar

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Iowa sports betting

Iowa sports betting saw solid results in June despite a sleepy sports calendar.

IA sports betting handle dipped 3% month-on-month to $111.2 million. However sports betting revenue climbed 38% to $8.4 million, thanks to a healthy hold of 7.5%.

That generated $568,500 in April tax revenue, per the state’s Racing and Gaming Commission.

William Hill leads Iowa sports betting

William Hill continued to lead in Iowa, taking more than $32.6 million in bets in June. That success is perhaps helped by having six casino partners in the state.

Right behind William Hill were DraftKings and BetRivers. The two posted $31.3 million in handle through their shared Wild Rose casino licenses.

DraftKings accounted for the larger share of that, but the reporting structure makes it impossible to specify exactly how much.

Hot competition in Iowa sports betting

FanDuel posted $15.2 million in handle, ahead of BetMGM with $11.4 million.

After that, PointsBet was best of the rest with $3.3 million in online handle.

Remaining online handle from Iowa sportsbooks:

People like to bet online

Iowa bettors placed more than 85% of bets online in April. The revenue uptick continues a strong trend since January, when Iowa’s in-person registration rule expired

With in-person registration in place, operators generated approximately $60 million in revenue in 18 months. 

In five months without it, operators have generated more than $54.7 million.

Local competition?

Iowa might also benefit from shaky sports betting legislation from neighboring states.

 South Dakota sports betting will be limited to retail sportsbooks in Deadwood. Deadwood is a six-hour drive from the state’s largest city, Sioux Falls, which is on the border with Iowa.

Nebraska sports betting will also be retail-only, with no wagering on in-state college games.

Wyoming, on the other hand, will indeed feature mobile wagering. It will be the second mobile-only state, following Tennessee.