Iowa’s sports-betting handle skidded in May, marking the second month in a row that the amount of wagering contracted in the Hawkeye State.
Sports-wagering handle in Iowa last month was just shy of $114.9 million, down from both the $118.4 million the state booked for April and below the record-setting $161.4 million it announced for March.
After paying out winnings, net receipts from sports betting in May were around $6.1 million, making for a hold of 5.3 percent.
The lion’s share of bets was placed online for the Midwest state’s sportsbooks, with $99.9 million in internet handle. Tax paid by the books last month amounted to $414,175, the Iowa Racing and Gaming Commission reported.
Tops among sportsbooks last month was again the Diamond Jo Casino in Dubuque, a FanDuel partner that recorded about $16.4 million in wagers. Runner-up was William Hill-partnered Isle Casino Hotel Waterloo, which reported about $15.4 million in bets taken.
Iowa became the 11th state in the United States with legal sports betting when wagers began being placed in August 2019. The state was also an early leader in the Midwest, although its example has since been followed by neighbors such as Illinois.
This year has put more wind in the sails of sports betting in Iowa as well, given that in-person registration is no longer required in the state.