Iowa sports betting handle reaches $182.5m in May
13 June 2024 - 17:23Iowa's sports betting scene saw robust activity in May, with a total handle of $182.5 million, marking a 23.6% increase from the previous year. However, it showed a slight dip of 12.9% from April's $209.5 million. Of the total, $169.5 million was wagered online, while $13 million was bet at physical sportsbooks.
Revenue reached $16.7 million, a small rise from $16.6 million last year and $16.5 million in April 2024. Online platforms contributed $14.9 million to this total, with retail locations adding $1.8 million.
FanDuel emerged as the revenue leader, while DraftKings attracted the highest handle. DraftKings recorded a handle of $72.4 million and revenue of $6 million, whereas FanDuel reported $6.5 million in revenue from $61.3 million in bets. Caesars followed with a handle of $22.4 million, trailed by BetMGM at $16.7 million. ESPN BET rounded out the top five operators with a handle of $9.3 million.
Tax revenue for the month amounted to $1.12 million. Year-to-date figures now stand at $2.46 billion in bets, $199.76 million in revenue, and $13.49 million in state tax contributions.