Retail loss fails to halt February year-on-year sports betting growth in Iowa

Revenue was comfortably higher than $11.9m in February 2023. However, the monthly total was 38.5% less than the $22.1m generated in Iowa in January of this year.

Online sports betting revenue reached $13.8m in February, although the final total was dented by a $215,241 retail loss.

As for handle, players in Iowa wagered some $220.6m on sports during the month. This was 13.8% ahead of $193.9m last year but 15.0% behind $259.5m in January.

Of this spend, $203.8m was bet online and $16.7m at retail sportsbooks across the state.

FanDuel and Diamond Jo Dubuque still the ones to beat in Iowa 

As has been the case for some time, FanDuel and Diamond Jo Dubuque remain the market leaders in Iowa. For February, the partnership generated $4.6m in revenue from $56.5m in wagers.

DraftKings and partner Wild Rose Jefferson again placed second with revenue of $2.2m. This came as players wagered a total of $36.2m across retail and online platforms during the month.

Not far behind in third was sister property Wild Rose Clinton, another DraftKings partner, on $2.0m from $28.8m. The third Wild Rose property in Iowa, Wild Rose Emmetsburg, followed with $1.8m off $22.5m.

February also marked the Iowa debut of Fanatics, which replaced the PointsBet brand in the state. Revenue from its partnership with the Catfish Bend Casino amounted to just $62,402 from $4.4m in wagers.

Iowa players won $206.6m in total for the month, while the state collected $936,744 in tax.