Iowa sports betting revenue dips in March despite handle increase
Player spending on sports betting in March amounted to $272.4m. This was 17.1% ahead of $232.6m in Iowa last year and also 23.5% higher than $220.6m in February.
Online handle in March reached $254.2m, while a further $20.4m was wagered at retail sportsbooks across the state.
However, higher spending failed to halt a decline in revenue. The $18.2m generated during March was down from $19.9m last year but 52.8% ahead of February’s $11.9m haul.
Revenue from online sports betting hit $16.5m, while retail’s share amounted to $1.7m.
FanDuel and Diamond Jo Dubuque lead the pack in Iowa
FanDuel and partner Diamond Jo Dubuque remain the market leaders in Iowa by some distance. For March, the partnership heralded $5.3m in revenue from $69.2m in total bets.
DraftKings and Wild Rose Jefferson kept hold of second place, reporting $2.9m in revenue for the month. Players spent $44.8m betting on sports across retail and online.
Wild Rose Clinton, another DraftKings partner, again placed third with revenue of $2.2m and a $32.6m total handle. Wild Rose Emmetsburg, the third Wild Rose property in Iowa, was not far behind with revenue of $2.0m from $27.9m in bets.
Diamond Jo Worth, which, like its sister Dubuque property, is partnered with FanDuel, also had a good month. For March, this partnership generated $1.4m in revenue from $21.7m in total wagers.
Iowa players won $254.2m during the month, while the state collected $1.2m in tax.