Iowa reports $209.5m sports betting handle for April
However, its monthly handle was the lowest of the year.
The Iowa Racing and Gaming Commission has released its sports wagering figures for the month of April. The state reported total handle of nearly $209.5m for the month.
Though last month’s handle reflects a 21.4% boost when compared to results from last year, the total falls below the state’s results during the past several months. Iowa’s handle fell by more than 23% when measured against March’s figure of $272m.
As of now, March’s handle remains the sixth-highest on record since Iowa opened its sports betting market.
During the month of April, sportsbooks statewide reported $16.5m in adjusted gross revenue (AGR). Iowa’s sportsbooks posted a 7.9% hold for the month.
Iowa players did well last month when it came to wins, taking home close to $193m in earnings from their wagers. More than $180m of those wins came from bets that were placed online.
Last month, 19 operators took bets from Iowa players, accounting for a total online sports betting handle of close to $196.6m.
DraftKings alone contributed its $73.1m handle to the state’s total and posted an 8.5% win rate. The operator collected $6.2m in winnings from its April handle.
FanDuel did not fall far behind DraftKings last month, posting $5.8m in revenue from its $54.7m handle total. The operator has ended the month with a single-digit win rate for the past three months.
In April, the newly created ESPN Bet took $7.5m in handle and reported a 10.2% hold.
During the month, sports wagering in Iowa contributed close to $1.1m in taxes.
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