Iowa sports betting revenue rockets

Iowa sports betting revenue rockets

The Iowa Racing and Gaming Commission has reported a 920.5% year-on-year increase in sports betting revenue in February, though both revenue and handle were down from January’s record results.

Revenue for February amounted to $7.7m (£5.6m/€6.5m), up from $755,334 in the same month in 2020, but 31.8% lower than the record $11.3m posted in January of this year.

Online sports betting accounted for $6.0m in total revenue for the month, while retail reached $1.7m.

In terms of handle, consumers in Iowa wagered $143.6m on sports, up 152.4% from $56.9m, but slightly down from a record $149.5m in January.

Some $125.2m was wagered across online platforms in February, compared to $18.4m at retail sportsbooks facilities in the state.

Players won a total of $135.9m from sports betting in the month, while operators paid $520,444 in sports wagering tax.