The latest monthly revenue report from the Iowa Racing and Gaming Commission has revealed that the state’s licensed sports betting operators reported a handle of $88,936,377.07 for the month of July. The latest figures mark a drop of almost 20% on June’s handle of $111,176,670.99 as July is the third month in a row that the state has seen a drop in sports wagers.
July’s figure sees the state’s betting activity drop significantly to almost half that of March when Iowa sportsbooks posted a handle of $161,439,561.27.
Retail sports betting accounted for 12.38% of the total handle as retail sportsbooks accepted $11,012,804.29 in wagers with payouts totaling $10,076,010.87. Mobile sports bets totaled $77,923,572.78 with $71,762,540.13 in payouts during the month.
Retail net receipts came to $936,793.42 while mobile net receipts of $6,161,032.65 were posted giving the state combined sports betting net receipts of $7,097,826.07 which resulted in state taxes of $479,478.62.
The Prairie Meadows Racetrack was once again the market leader with a handle of $12,687,526.94 accounting for 14.26% of the overall handle. This was just marginally higher than its closest competitor the Diamond Jo Dubuque Casino with an overall handle of $12,679,973.64. The Q Casino continues to post the state’s lowest handle accepting just $458,611.72 in wagers throughout the month.
The Ameristar II retains its position as the retail market leader with its sportsbook taking in $3,320,354.79 in retail wagers in July while the Prairie Meadows leads the online market with an internet handle of $12,299,885.96 just slightly ahead of Diamond Jo Dubuque.
July was also the first month that the Iowa Racing and Gaming Commission gave a breakdown of mobile sports betting according to online operators as opposed to previous reports that only listed handles according to their bricks and mortar casino partners. The report reveals that American Wagering Inc. was the market leader with a mobile handle of $28,673,139.31 followed closely by Crown IA Gaming LLC with $23,457,032.25. Meanwhile Twin River Management Group Inc. posted the lowest online handle of $65,934.79.
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