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Iowa sports betting revenue rises despite handle drop in January


Sports betting revenue in Iowa increased 15.4% year-on-year in January despite consumers in the state spending less on wagering.

Revenue for the month amounted to $16.5m, an increase from $14.3m in January last year but 19.1% behind $20.4m in December 2022.

Of this total, $15.3m was generated through online sports betting, while the remaining $1.3m in revenue came from retail wagering.

In terms of handle, players wagered $233.6m on sports, 23.0% lower than $303.3m in the same month last year but 1.6% more than $229.9m in December 2022.

Consumers spent $207.7m betting on sports online, as well as $25.9m wagering at retail sportsbook, winning a total of $217.1m in the process.

Diamond Jo in Dubuque and its FanDuel sportsbook retained first place in the market with $5.8m in revenue from a $56.1m handle.

Wild Rose in Jefferson and DraftKings were second with revenue of $2.0m and a $34.2m handle, then Diamond Jo in Worth and FanDuel on $1.7m from a $25.5m handle.

Sports betting tax for the month amounted to $1.1m.