Iowa sportsbook revenue rises to $3.2m in January

Iowa casinos took in $3.2m in revenue in January, an 11.4% year-on-year increase, despite handle declining 2.1% to $58.0m as lower success of retail punters offset a weak online win rate.

The improvement in revenue came mostly thanks to success from retail sportsbooks, which took in $1.9m, up 76.3% from December 2019. This increase came in spite of retail handling declining 6.3% to $24.2m.

Online revenue, meanwhile, fell 25.8% month-on-month to $1.4m, the lowest figure for any full month of online sports betting since its launch in Iowa. This occurred despite players betting $33.8m online, a record for the state.

Prairie Meadows Racetrack & Casino’s William Hill sportsbook was once again the main source of sports betting revenue in the state. However, the casino’s sports betting revenue fell 44.5% month-on-month to $691,506 even though handle increased 4.4% to $20.1m.

Read more on iGB North America.