Iowa Sports Betting Handle Sees Growth in March
Iowa has released its sport wagering report for March, which shows a year-on-year decrease in revenue despite a rise in handle.
LISTEN TO THIS ARTICLE:In the month, players wagered a total amount of $272.4 million, an increase of 17.1% compared to the $232.6 million handle received the same month last year. It was also ahead of February 2024’s $220.6 million by 23.5%. While online betting accounted for $254.2 million of the total handle, retail betting contributed the remaining $20.4m.
Related: Iowa Lawmakers Halt Casino Sports Betting Registry Plans
While the handle showed improvement, it didn’t reflect in the sports betting revenue. Operators generated a combined revenue of $18.2 million, an 8.54% decrease compared to $19.9m earned in March 2023. However, the total marked a significant 52.8% increase from February's $11.9 million.
As expected, online betting contributed the most revenue at $16.5 million, while bets across retail sportsbooks led to a $1.7 million gain. Players winnings in the month amounted to $254.2 million, while the state received $1.2 million in tax.
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FanDuel and Diamond Jo Dubuque Maintains Lead
In March, FanDuel and its partner, Diamond Jo Dubuque, continue to hold the largest share of the Iowa sports betting market. The duo generated a $5.3 million revenue from a handle of $69.2 million. DraftKings and Wild Rose Jefferson retained the second position with $2.9 million in revenue off a $44.8m handle.
Wild Rose Clinton, another DraftKings partner, claimed the third spot with $2.2 million in revenue from $32.6 million in total bets. Wild Rose Emmetsburg, the third Wild Rose establishment in Iowa, closely followed with revenue of $2.0 million from a betting total of $27.9 million. Diamond Jo Worth, in partnership with FanDuel, earned $1.4 million from a handle of $21.7 million.
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