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Iowa betting revenue down year-on-year in August despite handle jump

| By Robert Fletcher
Sports wagering revenue in Iowa fell 6.2% year-on-year to $13.5m (£10.8m/€12.6m) during August despite an increase in player spending.
Iowa August

Revenue in Iowa for August was down from $14.4m in August 2022 but 27.4% ahead of $10.6m in July this year.

Breaking this down, the state attributes $11.6m of monthly revenue to online wagering. The remaining $1.9m came from retail betting in August.

In terms of spending, Iowa consumers wagered a total of $141.2m on sports during August. This was 15.2% more than $12.6m in August last year and 28.7% higher than $109.7m in July 2023.

Online betting wagers amounted to $131.9m, while retail spend reached $9.4m.

Diamond Jo Dubuque continues to lead the way in Iowa

As for individual operators, Diamond Jo in Dubuque and its FanDuel sportsbook remain the market leaders in Iowa. Revenue from the partnership in August hit $3.6m and handle $27.6m.

Wild Rose in Jefferson and DraftKings were second with $1.8m in revenue and a $20.1m handle. Diamond Jo in Worth, another DraftKings, followed in third with $1.7m in revenue from $18.0m in wagers.

Two more DraftKings partners – the Wild Rose casinos in Clinton and Emmetsburg – were the only other operators to report revenue in excess of $1.0m in August. Wild Rose Clinton posted $1.3m from $23.8m in bets and Wild Rose Emmetsburg $1.2m off $13.0m.

Total sports betting tax for August totalled $911,669, while players won a total of $127.8m.

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