The ides of March were kind to Iowa sportsbooks and online sports betting sites this year, with a 20% jump in sports betting handle and 67.3% rise in revenue during the month.
In total, sports betting operators in Iowa reported $232,614,150 in handle during March, up from February’s haul of $176,196,513.
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As far as wagering revenues are concerned, the Hawkeye State saw $19,857,210 come across during the third month of the year, up big from February’s total of $11,871,156.
The news was equally good for the state’s bottom line, with a 64.2% month-over-month increase in sports betting taxes during March, from $789,626 to $1,296,262.
March’s handle in Iowa represented a .39% decrease from last March’s $233,525,474, while the state’s wagering revenues climbed 37.8% from last year’s total of $14,411,046.
Here’s what else you should know about the state of Iowa’s sports betting report for March:
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Iowa Sports Betting, March vs. February
|Total Handle||Mobile Handle||Revenue|
|Change||Up 20.0%||Up 18.6%||Up 67.3%|
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March Another Strong Month in Iowa
With 18 of the 19 originally licensed mobile sportsbooks operating in Iowa (Unibet Iowa ceased operations Dec. 20), it’s fair to say the state’s market is homing in on maturity.
That’s especially true for the state’s leading operators, such as DraftKings Sportsbook Iowa, which led the way in handle at $79,690,415.
The rest of the Iowa sports betting leaderboard in February included FanDuel Sportsbook Iowa, which was second in handle at $53,708,718, followed by Caesars Sportsbook Iowa ($35,611,281), BetMGM Sportsbook Iowa ($14,581,259) and Barstool Sportsbook Iowa ($6,498,868).
Through three months of the year, Iowa sportsbooks have raked in $660,113,400 in handle (averaging out to $220,037,800 per month) and $48,271,727 in gaming revenues (averaging $16,090,575 per month).
On a national scale, the Hawkeye State stands behind New York ($1.79 billion) and Maryland ($386 million), and ahead of West Virginia ($43.1 million) and Montana ($5.8 million) among states that have reported March figures.
Through three months of 2023, Iowa sportsbooks have posted handles that are 12.3% lower than the first quarter of 2022.
But the first quarter of 2023 saw a big improvement in gaming revenues, year-over-year, improving 29.6% from $37,259,703 in 2022 to $48,271,727 this year.
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