Financial figures for sports betting in Iowa plunged in April compared to the previous month.
But the decline is not all that surprising considering sports betting generally slows in the spring and summer, following the betting enthusiasm generated by NFL and college football and by college basketball’s March Madness.
In Iowa for April, the total sports betting handle, retail and mobile, was almost $172.6 million, down 25.8% from March ($232.6 million).
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Iowa Sports Betting, April vs. March
|Total Handle||Mobile Handle||Revenue|
|Change||Down 25.8%||Down 24.6%||Down 28.9%|
Note: 18 of the 19 Iowa casinos have mobile sports betting. Unibet Iowa ceased operations on Dec. 20.
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Revenue And Taxes Also Drop
As a result of the steep decline in handle, both operator revenue and tax collections also decreased by similar percentages for combined retail and online sports betting.
Iowa’s April sports betting revenue was about $14.1 million, down 28.9% from March ($19.9 million). And April state tax collections from sports betting was $958,605, down 26% from March (almost $1.3 million).
In Iowa, as in many other states, the bulk of wagering is done online at mobile sports betting apps. More than 91% of the April handle ($157.53 million) was wagered using computers and mobile devices. That amount was also down by a similar percentage, 24.6%, from March (almost $209 million).
The top five Iowa mobile operators by handle in April were: Crown IA Gaming (DraftKings Sportsbook), $55,819,334; Betfair Interactive US (FanDuel), $41,943,905; American Wagering Inc. (Caesars), $25,655,834; BetMGM $15,093,635, and Penn Sports Interactive (Barstool), $5,806,032.
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