Iowa Sees Sports Betting And Revnue Drop After Record-Breaking March

Following a record-breaking March, the top Iowa sportsbooks saw their numbers drop slightly in April.

According to figures released Friday by the Iowa Racing and Gaming Commission, the overall sports betting handle in Iowa for April was $118.36 million, down 26.7 percent from March’s record-breaking $161.44 million.

The April Iowa sports betting handle increased by 7,466 percent from April 2020 ($1,568,497), when physical casinos and sports leagues were closed due to the coronavirus pandemic.

The NCAA Tournament was the first year Iowans could legally bet on the college basketball tournament, which contributed to the state’s record numbers in March. Iowans who chose to support the Hawkeyes were rewarded handsomely by sportsbooks. Iowa was blown out as a favourite by Oregon in the second round after failing to cover in its first-round victory over Grand Canyon.

Aside from the single-game defeats, all of Iowa’s potential tickets were also deemed a loss.

In April, mobile sports betting handle totaled $104.51 million, down 25 percent from March’s $139.39 million but up 6,563 percent from April 2020 ($1.57 million).

The Hawkeye State’s sports betting revenue was $7.73 million, down from $13.45 million in March. However, compared to April 2020 ($150,331), it was up 5,039 percent.

Mobile sports wagering is now available at all 18 Iowa casinos that accept sports bets. Ameristar II became the last of Iowa’s casinos to offer mobile sports betting in February of this year. In April, Diamond Jo in Dubuque had the state’s highest sports betting handle of $18.45 million, just ahead of Isle Casino Hotel Waterloo ($17.85 million). Diamond Jo also had the highest income of any Iowa casino in April, with $1.3 million.

Iowa collected $521,455 in state taxes in April, down 42.6 percent from $908,011 in March.