Iowa posts year-on-year sports betting market growth in April
Player spending in April is comfortably clear of the $172.6m wagered in Iowa in the same month last year. However, the April total fell short of March’s total spend of $272.4m and also behind the $220.6m bet in February.
Of the total wagered in April, $196.6m was bet online and $12.9m via retail sportsbooks across Iowa.
An increase in player spending helped push revenue to $16.5m. This is 17.0% more than last year but a drop of 9.3% from $18.2m in March.
Online sports betting generated $15.7m in revenue during April, while retail drew $812,305.
Total player winnings for the month reached $192.3m, including $180.9m from online and $12.1m retail. As for tax, this amounted to $1.1m.
Who is winning in Iowa?
As has been the case for some time, FanDuel and partner Diamond Jo Dubuque remain out in front in Iowa. During April, the partnership generated $5.8m in revenue from $58.3m in wagers.
DraftKings and Wild Rose Jefferson were again second with revenue of $2.3m from $34.0m.
Sister property Wild Rose Clinton, which also partners DraftKings, followed close behind on $2.0m off $24.3m. Wild Rose Emmetsburg, the third Wild Rose property in Iowa, was next with $1.8m from $20.7m.
Other stand-out performers in April include Diamond Jo Worth which, like the Dubuque property, works with FanDuel. Revenue for the month hit $1.2m and a handle of $18.1m.
The only other property to exceed $1.0m in revenue was Ameristar II, which is working with Penn Entertainment. Revenue hit $1.1m after players spent $10.0m.
College athlete betting scandal rumbles on in Iowa
Against this backdrop, Iowa remains engulfed in a scandal over college athletes betting on sports.
The ongoing investigation related to the suspension and arrests of multiple college athletes. Earlier this month, emails released to the Associated Press shed more light on the case, including how one Iowa criminal investigator appears to have lost his moral compass.
Click here to read the latest update on the case from our US editor Jill R Dorson.