July marked Iowa’s lowest sports betting handle since November 2020 and was the fourth consecutive month of declining wagers.
Online accounted for $77.9m of July wagers. Operator revenue was $7.1m for the month, compared to $8.4m in June.
PlayUSA analyst Jessica Welman said the low handle reflects a lack of a summer sports offerings in states like Iowa that don’t have a professional team.
“The Olympics and the later-than-usual NBA Finals gave bettors more opportunities to place a bet than what would be a typical July, but neither were able to move the needle much,” said Welman. “Bettors simply check out in July, when summer vacations and other pursuits take precedence. But a surge in betting will certainly come with the beginning of the football season.”
According to PlayUSA research, July has annually produced the lowest handle of any month since the US Supreme Court overturned the Professional and Amateur Sports Protection Act in 2018.
Caesars Sportsbook, recently rebranded from William Hill, led Iowa handle with $31.1m, generating $1m in revenue.
Wild Rose/DraftKings/BetRivers finished second with $25.2m in handle and led the market with revenue of $2.4m.
Iowa should benefit from the return of NFL preseason games in August. Because of the state’s geographical positioning in the Midwest, Iowans tend to have a wide variety of NFL allegiances which pushes up football wagering.
