While Iowa’s sports-betting handle continued to shrink in June, the wagering revenue and win percentage of the state’s sportsbooks actually grew.
The Iowa Racing and Gaming Commission reported on Thursday that the state’s handle for June was nearly $111.2 million, which was the third consecutive monthly decline following May’s $114.9 million in wagering, April’s $118.4 million, and March’s record-setting $161.4 million.
Revenue from sports wagering in the Hawkeye State totaled $8.4 million last month after accounting for payouts to winning bettors, making June’s hold for sportsbooks about 7.6 percent. Both the hold and net revenue were up from May, which saw $6.1 million in receipts and a win rate of 5.3 percent.
Most bets in Iowa last month were placed online, with the state's internet handle amounting to $95.1 million. The tax collected from sportsbooks last month was $568,501.89.
Both online and in-person sports betting are allowed in Iowa, which began legal wagering back in August 2019.
The leading sportsbook in terms of combined mobile and retail wagering in June was Prairie Meadows Racetrack and Casino in Altoona, which is partnered with William Hill. According to last month’s figures, Prairie Meadows booked $19.5 million in handle and $648,831.83 in net revenue.
Runner-up last month among sportsbooks was the Diamond Jo Casino in Dubuque, which is partnered with FanDuel and which reported almost $15.3 million in handle for June. Net revenue for the partners was around $1.3 million.
