Iowa Sports Betting Revenue Declines in February
Sports betting in Iowa numbers fell by double-digits from January to February this year.
The sports betting handle went from $303.3 million in January to $215.9 million in February, a drop of 28.8%, according to Iowa Racing and Gaming Commission figures released Friday.
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The falloff can be attributed partly to the number of weekends in each month. January had five weekends, while February had four. In addition, January was packed with major football games, including 12 NFL playoff matchups.
Also in January, the College Football Playoff National Championship game between the Georgia Bulldogs and Alabama Crimson Tide took place in Indianapolis. The Bulldogs won their first national championship since 1980 on Jan. 10 by beating Alabama 33-18.
With five weekends and major football games taking place in January, sports wagering could be expected to show strong results. Major football games traditionally are the most heavily wagering events in the nation.
While February only had four weekends, its handle was boosted by active wagering on the Super Bowl, held Feb. 13 in Inglewood, California. The Los Angeles Rams defeated the Cincinnati Bengals 23-30 in the NFL’s marquee event.
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Iowa Sports Betting Revenue & Handle, February vs. January
|Total Handle||Mobile Handle||Revenue|
|Change||Down 28.8%||Down 29.3%||Down 39.9%|
Mobile Sports Betting Fell in February
The mobile sports wagering handle in Iowa roughly mirrored in the overall sports betting results. Mobile wagering accounted for the majority of sports betting the state.
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The February mobile wagering handle went from $275.8 million in January to $195 million in February, a falloff of 29.3%.
Among all online bookmakers in Iowa, Caesars Sportsbook had the largest handle in February, at $61.9 million.
In addition to a lower overall sports wagering handle from January to February, revenue and taxes to the state also declined. The sports betting revenue last month was $8,579,100, down 39.9% from January ($14,269,557) but 11.3% higher than the $7.7 million reported 12 months earlier.
February’s tax collection of $593,540 from sports betting was down 38.5% from the $964,525 tax total in January.
In-Person Mobile Registration Not Required in Iowa
Sports betting is allowed in person at Iowa casinos and on mobile devices.
Legal sports wagering was first launched statewide in August 2019.
Beginning in January 2021, bettors wanting to download a mobile sportsbooks no longer had to register or fund it in person at a casino.
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