- Iowa generated a $177 million betting handle in April.
- The Racing and Gaming Commission report shows that some big-name sportsbooks led the way.
DES MOINES, Iowa – The Iowa Racing and Gaming Commission released their April 2022 sports wagering revenue report. Their report shows that Iowa’s betting handle was $177 million, with $165 million of the handle generated online, and that the state collected $838,173 in taxes.
How Iowa’s April Sports Wagering Report Stack Up
Legal sports betting in Iowa generated a handle of almost $233 million in March 2022, with a $56 million decline in total money handled by Iowa’s sportsbook from March to April.
That is not as tough a hit as it may seem, as the lower handle could have been predicted based because of fewer premier sporting events to bet on during April than in March.
In April of 2021, Iowa handled $118 million, showing that legal sports betting options in Iowa saw a $59 million increase made in April 2022 when compared to the previous year.
Iowa also raised $300,000 more in taxes in April 2022 than in April of 2021.
Big Name Sportsbooks Taking Up A Large Market Share In Iowa
The Iowa sports wagering report indicates that Crown IA Gaming LLC (DraftKings), American Wagering Inc. (Caesars), Betfair Interactive US LLC (FanDuel), and BetMGM LLC (BetMGM) handled 88% of the online bets placed in Iowa during April.
DraftKings saw the largest handle at $44 million but came in second with $3.35 million in revenue. FanDuel Sportsbook had the third-highest handle at $38.4 million but made $4.01 million in revenue largely because of a 10.47% hold rate.
Circa Sports, BetFred Sports, Fubo, and the Hard Rock all reported losses as operators of online sportsbooks.
Brett is a passionate sports writer who majored in Sport Management at Florida State University. He combines his knowledge of stats with his understanding of game theory to find the best values when sports betting. Brett enjoys golfing, playing cornhole, and hanging out by the pool when he’s not locked in watching games.