In June 2021, revenue for sports-betting was down to $8.4m, which is 47.6% lower than the $12.6m recorded in May of this year.
Out of the total revenue, $6.2m came from online sports betting, while only $340,552 was generated from players betting at retail sportsbooks within the state.
During June, consumers placed wagers totaling $122.4m on sports, compared to $111.2m in the same month last year. However, this figure represents a 17.2% decrease from the $147.9m wagered in May 2022.
Out of this total, $111.9m was spent on online betting, while the remaining $10.5m was wagered through retail sportsbooks.
Breaking down the performance of individual operators, Diamond Jo in Dubuque, along with its FanDuel sportsbook, had the highest sports-betting revenue of $1.9m for the month. Moreover, its $31.0m handle was also the highest in the state.
Diamond Jo in Worth, a partner of DraftKings, ranked second with $1.0m in revenue and a $15.4m handle. Wild Rose in Jefferson, also a DraftKings partner, generated revenue of $746,039 from $15.7m in player bets.
The Iowa Racing and Gaming Commission reported that regulated sports betting in June resulted in $445,594 of tax revenue.
Betfred Sports recently expanded its partnership with OpenBet and implemented its digital and retail technology throughout its operations in Iowa. Betfred’s Grand Falls Casino & Golf Resort sportsbook now utilizes OpenBet’s retail solutions, including betting counters and self-service kiosks. Additionally, Betfred will leverage OpenBet’s digital technology and sports betting engine for mobile and online betting. The two groups have already joined forces to enter the regulated markets of Arizona, Colorado, Louisiana, and Pennsylvania.
