Iowa’s Sports Betting Market Sees Growths in May
In May, Iowa’s sports betting handle reached $182.5 million, as reported by the Iowa Racing and Gaming Commission (IRGC).
This represents a 23.6% increase compared to the same month last year, though it marks a 12.9% decrease from April’s handle of $209.5 million. Of the total handle, $169.5 million was wagered online, while $13 million was spent at retail sportsbooks.
Revenue and Operator Performance
The total revenue for May amounted to $16.7 million, slightly up from both the $16.6 million reported in May of the previous year and the $16.5 million in April 2024. Online betting contributed $14.9 million to the revenue, with retail locations accounting for $1.8 million.
FanDuel led the market in terms of revenue, generating $6.5 million from $61.3 million in bets. In contrast, DraftKings saw the highest handle with $72.4 million, bringing in $6 million in revenue.
Tax Contributions and Year-to-Date Figures
Other notable operators included Caesars, with a handle of $22.4 million, BetMGM at $16.7 million, and ESPN BET, which completed the top five with a $9.3 million handle.
Tax revenue from sports betting in May totaled $1.12 million. The year-to-date figures highlight the growth and scale of the market, with total bets amounting to $2.46 billion, generating $199.76 million in revenue and $13.49 million in state tax.
Recommended