The state of Iowa showed that sports betting revenue grew 37.7% in April 2022, compared to the same month last year.
The Iowa Racing and Gaming Commission said that sports betting revenue hit $12.4 million last month.
It was still a substantial month on month drop, according to the gambling authority, although this was expected due to the light sports schedule in April.
Key points of Iowa Sports Betting Report for April
- The majority of Iowa’s sports betting was done online. $155.2 million was wagered remotely, while only $21.8 million was spent in retail.
- The best performer in the sports betting market was FanDuel’s sports book at Diamond Jo in Dubuque. The group generated $4.1 million in April and owned over 10% of the market.
- The second-best performer was DraftKings partner Diamond Jo in Worth, which reported on $1.7 million last month.
- 88% of the online betting market was handled by four entities – Crown IA Gaming (DraftKings), American Wagering Inc. (Caesars), Betfair Interactive US LLC (FanDuel) and BetMGM LLC (BetMGM).
- Several operators of online sportsbooks in the Iowa market reported that they experienced losses in April 2022. These include Circa Sports, Betfred Sports, Fubo and the Hard Rock.
- Iowa raised $300K more in taxes in April this year when compared to the previous year.
