Iowa Sets Records in Revenue and Handle in March

Sports betting revenue in the state of Iowa has reached a record-breaking $13.5 million in March. The state’s handle has also hit a record in March, amounting to $161.4 million.

Compared to March 2020, the revenue total has seen an increase of 1,025%, and the revenue in March 2020 was $1.2 million. March 2020 was a turbulent time for the market, since the pandemic heavily affected the state’s casinos and suspended major leagues.

The increase in revenue in March is a 75.3% increase to the revenue in February and January 2021.

Also, the handle has reached a record high of $161.4 million. The previous record was $149.5 million in January and this is an 8% increase. Compared to last year’s handle, the total is 723.5% higher.

Players in Iowa spent $139.4 million on internet sports betting and $22.1 million at retail sportsbooks. In Iowa, online sports betting is no longer subject to an in-person registration requirement.

Performance

As far as operator performance goes, Diamond Jo Casino in Dubuque, running a FanDuel sportsbook, spearheaded the record setting in revenue and handle. The casino reported $1.9 million in revenue and a handle of $29.0 million.

Coming in second place was a FanDuel’s sportsbook in Diamond Jo in Worth, with $1.8 million in revenue and $13.8 million in handle. The DraftKings sportsbook at the Wild Rose Casino Jefferson posted $1.7 million in revenue off handle of $20.6 million.

The financial year to date for sports betting revenue in the nine months to the end of March was %67.7 million with $46.7 being online and $21.0 million retail. In the period of nine months, handle reached $874.0 million, out of which $685.5 million was spent online and $188.5 million at retail.

Run by Experts

FanDuel was founded by five industry experts and is now one of the leading companies in a multi-billion-dollar industry. The sportsbook hosts bets for all major US leagues, including NFL, NBA and WNBA, MLB, NHL, EPL and UCL and PGA. It has over 6 million ed customers and it has received multiple awards over the years since 2009, including Company of the Year in 2012, Sports Innovation Index in 2012, FSTA Best Fantasy Contest in 2013 and FSTA Best Daily Fantasy Product in 2014.

Source:

“Iowa sets new sports betting revenue and handle records in March”, igbnorthamerica.com, April 9, 2021.