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Iowa sports betting market continues to recover in June


Figures released by the Iowa Racing and Gaming Commission show that sports betting revenue in the state amounted to $620,740 in June, an increase of 23.9% on the previous month.

Iowa was boosted last month by the reopening of its casinos on June 1, after closing their doors on March 17 due to the novel coronavirus (Covid-19) pandemic, which had led to a significant drop in revenue in April to $150,331.

However, the market recovered in May, during which revenue reached $501,602, and the state saw betting levels continue to climb over the past month.

In June, players wagered a total of $12.7m on sports, up 81.4% from $7.0m in May, winning $12.1m in the process.

Despite casinos and retail sportsbooks reopening, online remained the channel of choice for many, with consumers wagering $11.6m and winning $10.9m via digital platforms, leaving operators with $662,062 in online revenue.

In contrast, retail spend only reached $1.1m and after players won $1.2m, this led to a loss of $41,321 for brick-and-mortar sports betting operations in June.

Some 19 casino operators took sports bets – in-person, online or both – in June, with Prairie Meadows, partnered with William Hill, again leading the market. It posted $228,312 in revenue from $4.5m in total bets, with $4.8m bets placed on its sportsbook app and just $30,929 at its retail facility.

Wild Rose Jefferson, the operator under whose license DraftKings is active in the state, followed in a distant second with $125,821 in sports betting revenue and a handle of $2.4m. Online revenue reached $126,958, but the operator reported a loss of $1,138 from its retail arm.

Elsewhere, the Isle Casino Hotel Waterloo posted $77,357 in total sports betting revenue for the month, from $897,929 wagers placed, while Rhythm City Casino was the only other operator to see revenue exceed $50,000, posting $52,660 for the month.

In contrast, Diamond Jo Worth Casino posted a sports betting loss of $45,669 for June, though the operator only runs a retail sportsbook and does not yet have an online presence. Harrah’s Council Bluffs Casino and Horseshoe Casino Council Bluffs also reported losses for the month.