The start of the dog days of summer took a bite out of the amount of sports betting in Iowa last month.
The Iowa Racing and Gaming Commission reported on Friday that the state’s online and retail sports wagering handle for July was $88.9 million, a 20-percent drop from the $111.2 million recorded for June.
July’s dip also continues a trend for the Hawkeye State. The decrease in action last month marked the fourth month in a row that the amount of wagering fell: following the record-setting $161.4 million for March, approximately $118.3 million was bet in April, and then $114.9 million for May.
Most of the sports wagering for Iowa in July stemmed from online play, as the internet handle among the state’s sportsbooks amounted to $77.9 million. The retail handle was $11 million.
After paying out $81.8 million to winning bettors last month, net revenue from sports wagering was about $7.1 million, making for a hold of nearly eight percent. In June, Iowa’s sports-wagering net receipts clocked in at $8.4 million and its win percentage was around 7.5 percent.
Caesars reigns
Going by brick-and-mortar facilities, the leading sportsbook in both mobile and retailer wagering in July was again Prairie Meadows Racetrack and Casino in Altoona, which is partnered with what is now Caesars Sportsbook, and was then William Hill. The track reported a combined handle of approximately $12.7 million last month.
Caesars was king as well among online sports betting operators, with an internet handle of nearly $28.7 million in July in Iowa. The app’s owner, Caesars Entertainment Inc., recently rebranded much of what were the U.S. operations of William Hill Plc, which it also owns. Caesars is now putting its namesake front-and-center when it comes to sports betting in North America.
The leading physical sportsbook in Iowa last month was at the Ameristar Casino Hotel in Council Bluffs. The Penn National Gaming Inc.-owned facility reported a retail sports-wagering handle of $3.3 million.
