- Iowa betting fans wagered $118.4 million on sports in April.
- This is down from the $161.4 million record set in March.
- This is the largest single-month drop since sports betting launched in Iowa.
DES MOINES, Iowa – Iowa has come down from the highs it saw in sports betting activity in March, seeing a major dip in April.
This could be due to the end of the college betting season, as local fans of the Iowa Hawkeyes no longer had their home team to place action on. In total, the dip in sports betting activity in April is the single biggest drop in betting handle since Iowa sports betting launched in August 2019.
Iowa Sports Betting Dips
The main reason for the decline in sports betting revenue is due to the end of the March Madness betting season. Iowa is home to several fans of the University of Iowa team which explains why betting exploded in March.
With the college basketball season over, betting fans only accounted for $104,514,350.40 according to the report released by the Iowa Racing and Gaming Commission. This is a 26.7% decrease from the $161.4 million record set in March.
The $43.1 million decrease month over month is even bigger than the dip in betting handle between February and March 2020 when the COVID-19 pandemic shut down the sports betting market. The betting handle dipped $37.3 million during that span.
Sports betting revenue also saw a major dip, down to $7.7 million from the $13.5 million all-time record set in March. This is a 42.6% decrease.
Mobile sportsbooks remained the primary way players placed action, collecting $97,822,402.65 in April, or 88% of the total betting handle.
The biggest sportsbook in Iowa on the month was William Hill. The Caesars Entertainment-owned sportsbook saw $35.7 million of the total betting handle, with BetRivers and DraftKings sportsbooks combining for a total of $34.3 million wagers showing the strong market hold of William Hill.
The legal sports betting market in Iowa may have seen a strong dip, but with the remaining NBA season hosting lines, it is not unlikely for the local market to bounce back in May.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.