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Iowa reveals month-on-month betting revenue and handle declines in May


The Iowa Racing and Gaming Commission (IRGC) has reported a month-on-month decline in sports betting revenue and handle for May.

Net receipts for the month amounted to $6.1m, which was 20.8% lower than the $7.7m recorded in April of this year, marking the second consecutive month of decline in Iowa.

Revenue was up 1,117.4% from $501,062 in the same month last year, though the May 2020 figures were severely impacted by the novel coronavirus (Covid-19) pandemic.

Betting options in May 2020 were significantly limited as many sports events were forced to cancel or postpone due to the pandemic, while players in Iowa could only bet online as retail sportsbooks were closed for the entire month.

Online remained the primary source of sports betting income in Iowa, with revenue for the month reaching $4.8m, some way ahead of retail sportsbook revenue on $1.3m.

Player spending in May totalled $114.9m, which was 1,541.4% higher than the $7.0m bet in the same month last year, but 3.0% lower than $118.4m in April this year.

Some $99.9m was wagered online, compared to $15.0m at retail sportsbooks. Consumers won a total of $108.7m from sports betting in May, while the state collected $414,175 in taxes.

Turning to operator performance and Diamond Jo Casino in Dubuque, which runs a FanDuel sportsbook, led the market in terms of revenue and handle, posting $1.5m in revenue off a handle of $16.4m.

Its sister Diamond Jo property in Worth, which also has a FanDuel sportsbook, was ranked second with $902,824 in revenue and a $11.2m handle, followed by Wild Rose Casino Jefferson and its DraftKings sportsbook with $659,739 in revenue and a handle of $15.3m.