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Iowa had a good month of April in terms of sports betting, as the Iowa Racing and Gaming Commission reported $209.5 million in accepted bets for the month. It marked a 21.4% increase over last year’s April numbers. There is no question that the Iowa Hawkeyes and Caitlin Clark helped Iowa’s numbers. The No. 1 draft pick in the WNBA was in the news on a regular basis in April and the Hawkeyes had two games in April that definitely helped sports betting numbers for the state. The state of Iowa had $272 million bet in March which was the sixth-highest total in the state’s history.
Check out the latest sports betting odds at Caesars.
The numbers for Iowa sportsbooks in April were solid, as they combined to post a 7.9 hold percentage. There was $16.5 million in adjusted gross sports betting revenue and those numbers were up 17.1% from April of last year. The state received $1.1 million in terms of tax money, making the total through the first four months of the year $4.8 million. That is well ahead of the first four months from last year.
Mobile wagers were popular and the overall hold on mobile wagers was 8%. There was a total of 19 online sportsbooks accepting a total of $196.6 million in bets. DraftKings led the way with an 8.5% win rate, as they took in $6.2 million in winnings from $73.1 million in handle. It was no surprise that FanDuel was second with $5.8 million in revenue from $57.4 million in handle. That meant more than a 10% win rate.
Caesars took in $964,000 from $20.6 million in wagers. BetMGM was next at $14.7 million in wagers and they claimed $934,300 with a 6.4% win rate. Bet365 hand handle of $8.7 million, and they took in just over $600,000 for a hold percentage of nearly 7%. ESPN BET had $7.5 million in handle and a 10.2 hold percentage for the month.
It wasn’t all positive for sportsbooks, as Circa Sports lost money, as Iowa bettors wagered nearly $2.8 million and came out $127,900 ahead. Daily Racing Form took a loss as bettors posted a $12,800 profit on $542,400 worth of wagers. SuperBook also lost for the month and Q Casino’s mobile sportsbook also lost in April.
Iowa’s 19 retail sportsbooks failed to reach $1 million in collective revenue for the month. Ameristar Casino in Council Bluffs and Diamond Jo Casino in Worth combined for $593,900. Five of the brick-and-mortar sportsbooks had losses in April with Riverside Casino and Golf Resort losing $186,400. Riverside has lost every single month this year and is now down almost a quarter of a million for the year.Check out the latest sports betting odds at Caesars.
