Iowa Sports-Betting Handle Declines Again in May

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.

Geoff Zochodne - Sports Betting Journalist at Covers.com
Geoff Zochodne • Senior News Analyst
Jun 11, 2021 • 09:55 ET • 2 min read
Luka Garza Iowa sports betting
Photo By - USA TODAY Sports

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.

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Geoff Zochodne, Covers Sports Betting Journalist
Senior News Analyst

Geoff has been writing about the legalization and regulation of sports betting in Canada and the United States for more than three years. His work has included coverage of launches in New York, Ohio, and Ontario, numerous court proceedings, and the decriminalization of single-game wagering by Canadian lawmakers. As an expert on the growing online gambling industry in North America, Geoff has appeared on and been cited by publications and networks such as Axios, TSN Radio, and VSiN. Prior to joining Covers, he spent 10 years as a journalist reporting on business and politics, including a stint at the Ontario legislature. More recently, Geoff’s work has focused on the pending launch of a competitive iGaming market in Alberta, the evolution of major companies within the gambling industry, and efforts by U.S. state regulators to rein in offshore activity and college player prop betting.

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