Iowa gamblers placed $233.5 million in sports bets in March 2022, which is an increase of 44.7% compared with the March 2021 numbers. The revenue of the state also grew 6.7% to $14.4 million.
The sports betting market in Iowa registered significant growth in bets placed in March 2022, as in the same month last year Iowa had $161.4 million in wagers accepted. The March 2022 numbers also showed an 8.2% increase in comparison with $215.9 million in bets by consumers in February 2022.
Iowa players placed approximately $208.3 million in online sports bets while the remaining $25.3 million was spent at retail sportsbooks across the state.
Sports Wagering Revenue Broke the Record from March 2021
The sports wagering revenue in Iowa also increased from $13.5 million in March 2021, when the state reached a new record at that time. The total revenue for March 2022 was 14.4 million, which is an increase of 67.4% compared with February 2022 numbers – $8.6 million. The online revenue reached $12.6 million, while the revenue received from retail sports wagering was $1.8 million.
The state of Iowa managed to collect $972,991 in taxes from sports wagering, up 64% from $593,540 in February 2022 and up 7.2% from $908,011 in March 2021.
All the 19 casinos in Iowa allow retail sports betting and collaborate with a mobile sports betting operator.
Diamond Jo Casinos with Highest Handle in the State
In terms of individual performance of the casinos, Diamond Jo Casino, a gambling casino and entertainment complex located in Dubuque, which runs a FanDuel sportsbook, ranked first in the state gambling market with $3.9 million in revenue from $48.8 million placed in wagers.
Its sister casino property, Diamond Jo Casino, based in Worth, which is in partnership with FanDuel, took the second place with $2.6 million in revenue from $30.5 million in bets, followed by Wild Rose Casino Jefferson and its DraftKings sportsbook with $1.4 million from $31.3 million in wagers accepted. Prairie Meadows registered $ 1.09 million in revenue from a $22 million betting handle.
As for the operators, DraftKings Sportsbook holds the first place in the list with a total of $64.9 million placed in wagers in March 2022. Caesars Sportsbook and American Wagering Inc. had the second-highest operator handle at $49 million. Betfair Interactive and FanDuel ranked third with $47.5 million in placed bets. Bet MGM with $22.6 million and Penn Sports Interactive’s Barstool Sportsbook with $7.4 million in bets hold the fourth and the fifth places, respectively.