The latest sports wagering monthly revenue report from the Iowa Racing and Gaming Commission shows that the state’s operators posted a sports betting handle of $114,882,963.30 for the Month of May.
May’s figures mark a drop of 3% on April’s handle of $118,355,535.01 and a significantly lower handle than 2021’s record month of March when operators took in $161,439,561.27 in bets.
Online sportsbooks accounted for 87% of bets with a handle of $99,916,367.39 paying out $95,091,786.13 in winnings. Meanwhile, retail sportsbooks attracted only $14,966,595.91 in bets paying out $13,657,700.02 in winnings.
Online sportsbooks posted net receipts of $4,824,581.26 while net receipts at retail sportsbook amounted to $1,308,895.89. This resulted in combined net receipts of $6,133,477.15 which generated $414,175.02 in taxes for the state.
The Diamond Jo Dubuque Casino sportsbook led the market with 14.25% of the handle taking in bets worth $16,375,549.41. The Isle Casino Waterloo and Wild Rose Jefferson followed up with handles of around $15M each. The lowest handle was posted by the Q Casino taking in only $873,046.90 in bets.
The Ameristar II posted the highest retail handle at $4,604,824.03 while it was the Diamond Jo Dubuque that took in the most internet bets with a handle of $15,943,372.91.