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Iowa sports betting revenue up despite handle dip in March


Iowa’s sports betting revenue increased year-on-year in March, despite the US state posting a slight decline in monthly handle.

Player spending on sports wagering in March across online and retail amounted to $232.6m, down marginally from $233.5m in March 2022. However, this figure was 20.0% higher than the $193.9m bet by consumers in February this year.

Of this total, $209.0m was wager with online sportsbooks, while the remaining $23.6m was spent at retail locations.

Revenue for the month stood at $19.9m, up 38.2% on the previous year despite the decline in spending and also 67.2% more than the amount generated in February 2023.

Online betting accounted for $17.5m of all revenue in March, while retail’s contribution was $2.3m.

Breaking down individual operator performance, Diamond Jo in Dubuque and its FanDuel sportsbook retained top spot with $5.4m in revenue from $54.8m in total wagers.

Wild Rose in Jefferson and DraftKings were second with revenue of $2.9m and a $37.3m handle, then sister property Wild Rose Clinton, also partnered with DraftKings, on $2.0m from $28.6m in bets.

Sports betting tax for the month amounted to $1.3m.