Iowa Sports Betting Market Continues Recovery in June
The Iowa Racing and Gaming Commission released a report that showed the Iowa sports betting market continued its upward trend in June. The sports betting revenue increased by 24 percent to $620,740 in the month.
Iowa reopened its casinos on June 1. The state closed non-essential businesses, including casinos, on March 17 to prevent the spread of the coronavirus. As a result, the sports betting revenue dropped to $150,331 in April.
However, the industry recovered in May. Its revenue improved to $501, 602. Also, the state saw wagering levels continue its upward trend over the previous month. In June, players bet $12.7 million. It was up from $7 million in May. Players won a total of $12.1 million.
Iowa Sports Betting Market
Retail sportsbooks and casinos are reopening. However, online sportsbooks remained the preferred option, according to a gambling blog. Players bet $11.6 million and won $10.9 million through online sports betting platforms. Also, operators earned $662,062 through mobile apps and websites.
On the other hand, retail sportsbooks suffered losses in June. It is hard to be a bookie without a mobile platform in Iowa. Retail bookies saw $1.1 million in handle, and players won $1.2 million. Thus, bookies had a loss of $41,321 for the month.
According to bookie pay per head reviews, 19 casinos operators took sports wagers online, in person, or both. Leading the market was Prairie Meadows, whose partner is William Hill. It earned $228,312 from a handle of $4.5 million. However, most of the bets were made through its sportsbook app.
Based on pay per head reports, Wild Rose Jefferson was in second place. Its partner is DraftKings. It earned $125,821 with a handle of $2.4 million. Although its online revenue was $126,958, its retail operation suffered a loss of around $1,000.
Diamond Jo Worth Casino, Horseshoe Casino Council Bluffs, and Harrah’s Council Bluffs Casino suffered losses in June. One thing they have in common is that they don’t have an online presence.