The Dog Days Of Summer Sports Betting

  • Six states saw a decrease in sports betting over the month of June in 2022, with two of them not offering mobile sports betting.
  • The Iowa sports betting market saw a 17% decrease from May to June, from the 19 mobile betting apps and 18 retail locations combined.

NEW YORK – With both the NBA and NHL seasons coming to an end, June was filled with many opportunities to bet on playoff finals game lines, future bets for player awards, and betting on the overall winner of each league.

However, looking at the sportsbook revenues for the month of June, six different US states have reported their lowest revenue in recent months, showing June being the decline for the sports betting market.

Decrease In Handle In Competitive Markets

In New York, the mobile sports betting revenue has continued to trend downward, with the last two weeks in June hitting new lows. The week ending on June 26th, recorded $218 million, which was a new low after the previous lowest week was also recorded in June at $265 million.

Even though there have been plenty of other states that have struggled with sports betting in June, New York has had other issues because of having the highest tax rate in the state at 51%. Even with the struggles for the overall market, FanDuel has still led the handle by operator with $101 million by the week of June 26.

New York has one of the most crowded sports betting markets with 11 retail locations and eight mobile betting operators. They also have to compete with New Jersey’s 14.25% mobile betting tax rate

Iowa has been running regulated sports betting since August 2019 and has 19 online sportsbooks up and running through the state, with 18 options for retail betting. With retail and mobile combined, Iowa reported a decrease of 17% from May to June 2022.

Iowa has been going through a transition with ScoreBet’s last month operating in Iowa took place in June, still leaving 18 other online sportsbooks to wager with. Iowa’s June handle of $122,437,950, was the lowest handle that has been reported since August 2021.

States With No Mobile Betting See June Betting Trend

With only three retail sportsbooks, and no regulated online books, Delaware has seen a dip in total handle for June, similar to many other states with legal sports betting. Having its lowest handle since August 2020, Delaware could be seeing the effects of not offering any state-regulated mobile betting.

For the month of June, Delaware brought in a $3,507,846 handle, and $211,921 in revenue

Similar to Delaware, Maryland does not offer regulated mobile sports betting and reported a total June handle of $19,121,331. This is the state’s lowest reported since retail sports betting launched in December 2021.

Other Sates With Low Handles

  • Indiana – Lowest handle since August 2021, at $256,307,260.
  • Oregon – Lowest handle since December 2021, at $19,121,331.

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