Iowa’s sports betting market continues to recover in June

Sportsbooks in Iowa have continued to recover from the effects of the coronavirus pandemic in June.

According to the latest figures from the Iowa Racing and Gaming Commission (IRGC), sports betting revenue in the state hit $620,740, a 23.9% month-on-month increase in betting revenue.

June also saw the reopening of the state’s casinos which helped boost sports betting handle to $12.7m.

Although casinos and land-based sportsbooks reopened, online and mobile was the most popular way to bet in June. Bettors wagered $11.6m via online sportsbook and won back $10.9m, leaving operators with $662,062 in online betting revenue.

Land-based sportsbooks processed $1.1m in bets and paid out $1.2m in winning, leaving the bookmakers with a loss of $41,321.

The state’s sports wagering market was hit incredibly hard by the coronavirus pandemic after venues in the state were forced to close and sporting events were cancelled in mid-March. This resulted in the state’s sports betting revenue dropping to $150,331.

However, Iowa’s sports wagering market began its road to recovery in May and as several international sports leagues resumed sports wagering revenue hit $501,602.

Looking closer at the figures

Looking closer at the figures, Prairie Meadows, which is partnered with William Hill for online betting, led the market in June with $228,312 in revenue from $4.5m in total bets. Bettors wagered $4.4m via the William Hill app and $30,929 in-person at the casino sportsbook.

Wild Rose Jefferson, which is partnered with DraftKings, came in second place after generating $125,821 from $2.4m in bets. Online revenue hit $126,958, while land-based operations made a loss of $1,138.

The Isle Casino Waterloo came in third place after generating $77,357 in revenue from $897,929 in sports wagers.

Rhythm City Casino was the only other operator to generate more than $50,000 in revenue. According to the IRGC figures, Rhythm City generated $52,660 in revenue from $377,541 in sports wagers.

Sports betting in Iowa

Governor Kim Reynolds signed Iowa’s betting bill into law in May 2019. With just 94 days between the signing of the bill and the launch of sports betting in the Hawkeye State, Iowa’s timeline to launch sports betting was one of the quickest in the US.

From 1 January 2021, bettors will be able to register online sportsbook accounts remotely from anywhere within the state, eliminating the inconvenience of having to travel to a casino. This will is sure to be a positive development for both the state’s sportsbooks and consumers.

At the time of writing, Iowans can bet online with several sports betting brands including William Hill, Bet.Works and DraftKings.

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