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Iowa posts first month-on-month betting handle increase since March


Iowa saw a double-digit rise in betting volume during August as the state recorded its first month-over-month gain in betting handle since March, but revenue was down.

Iowa’s online and retail operators welcomed $108.4m of wagers during the final month before the start of the NFL season, up 116% year-on-year and 21% compared to July 2021.

Retail handle was $12.4m compared to $11.0m in July and almost 11 times the figure of August 2020 when severe COVID-19 restrictions were in force across the state’s casino properties.

Internet handle totalled $96.1m, compared to $78.5m in the previous month and just $35.0m in August 2020.

Caesars Entertainment (American Wagering Inc) was the biggest online operator with handle of $34.8m, with DraftKings (Crown IA Gaming LLC) second with $29.9m.

Isle Casino Hotel Waterloo, operated by Caesars, was the most successful outlet with combined retail and online handle of $18.2m.

Despite the uptick in handle, revenue for the state’s operators was down 14% month-on-month to $6.6m.

Retail revenue almost doubled month-on-month to $1.9m, while online revenue of $ $4.7m was down 30% compared to July.

DraftKings was the biggest winner in Iowa in August as it posted internet net receipts of $2.3m, with Betfair reporting revenue of $1.0m on handle of $14.1m.

Total adjusted gross revenue for the state’s casinos was at $145.1m in August compared to $157.4m in July.

Since the end of the period, Kindred has launched its Unibet app in Iowa, while Fubo Gaming has been approved by state authorities.

Tipico has also this week agreed a deal with Caesars Entertainment that will see the German operator gain access to Indiana and Iowa’s mobile betting markets, with scope to expand into additional states in future.