Iowa sportsbook revenue rises despite Covid-19 shutdown
| By Daniel O'Boyle
Sports betting revenue in Iowa increased 55.1% month-over-month to $1.2m for March, despite the shutdown of almost all sports due to the novel coronavirus (Covid-19) pandemic midway through the month.
Sports betting revenue in Iowa increased 55.1% month-over-month to $1.2m for March, despite the shutdown of almost all sports due to the novel coronavirus (Covid-19) pandemic midway through the month.
Total handle, however, was well below previous months, at $19.6m, down 66.5% from February.
The state’s continued flow of sportsbook revenue was thanks to online betting, which brought in $1.2m, down 9.4%. This figure came on a handle of $13.3m, down 64.8%.
Retail betting, meanwhile, made a loss of $69,933. While this marked second consecutive month in which the retail sector posted a loss, this was much reduced from the $614,574 loss in February allowing for overall month-over-month growth.