Sports wagering revenue in Iowa reached a new record of $13.5m in March, while the US state’s handle also hit a new monthly high of $161.4m.
The revenue total represented a 1,025.0% increase on the $1.2m reported in the same month 2020, the month in which the novel coronavirus (Covid-19) pandemic shuttered the state’s casinos and saw major leagues suspended.
Online sports betting accounted for $10.3m of total revenue for the month, some way ahead of retail on $3.1m.
Handle also reached a record high of $161.4m, beating the previous record of $149.5m in January by 8.0%%. This total was also 723.5% higher than $19.6m in March 2020.
Consumers spent $139.4m on internet sports betting during March, which is no longer subject to an in-person registration requirement, compared to $22.1m at retail sportsbooks.
Players won $147.4m from sports wagering in the month, while operators paid a total of $908,011 in tax.
Looking at operator performance, Diamond Jo Casino in Dubuque, which runs a FanDuel sportsbook, led the way in March in terms of revenue and handle. The casino posted $1.9m in revenue and reported a handle of $29.0m.
The sister Diamond Jo property in Worth, which also has a FanDuel sportsbook, ranked second with $1.8m in revenue and a $13.8m, while the Wild Rose Casino Jefferson and its DraftKings sportsbook posted $1.7m in revenue off handle of $20.6m.
William Hill’s sportsbook at Penn National Gaming’s Prairie Meadows Racetrack and Casino, which led the market in February, posted $1.3m in revenue and a handle of $19.3m.
For the financial year to date, total sports betting revenue in the nine months to the end of March was $67.7m, with $46.7m attributed to online operations and $21.0m retail.
Handle reached $874.0m in the nine-month period, $685.5m of which was spent online and $188.5m at retail sportsbooks.