Iowa gambling revenue dropped in April compared to the previous month. The decline wasn’t unexpected as the men’s and women’s NCAA basketball tournaments took place in March, while the NBA and NHL playoffs had just started in late April.
Revenue from sports betting in April was $14.1 million, while March revenue reached $19.8 million, resulting in a 40% decrease in April.
The total sports betting handle in April was $172.6 million, down 35% from March’s $232.6 million.
It was anticipated to see a post-madness slowdown. Gambling in Iowa began in 2019, both in retail and online. Since the start of sports betting in the Hawkeye State, online betting has been preferred by bettors.
March was a significant month for betting in Iowa, with all six major college basketball teams in the state participating in the NCAA tournament. Unfortunately, the men’s and women’s teams from Iowa State, as well as both Drake teams, were eliminated early in March Madness.
However, the Iowa Hawkeyes women’s basketball team, led by Caitlin Clark, had an impressive run and made it all the way to the championship. They lost to LSU, 102-85.
March is typically a major betting month everywhere, but especially in Iowa. With no major professional teams to bet on, Iowans heavily focus on college sports, particularly March Madness.
Despite a decrease in handle in April, Iowa sports betting has been strong so far this year.
New jersey Sports Betting throughout 2023
| Iowa Wagering | January 2023 Handle | Jan 2023 Earnings | February 2023 Handle | January 2023 Earnings | March 2023 Handle | Walk 2023 Earnings | April 2023 Handle | September 2023 Earnings |
| Online Playing | $207. 7M | $15. 3M | $176. 2M | $12. 5M | $209M | $17. 5M | $157. 5M | $13. 4M |
| In a store betting | $25. 9M | $1. 2M | $17. 7M | -$597, 728 | $23. 6M | $2. 3M | $15. 1M | $675, 249 |
| Whole | $233. 6M | $16. 5M | $193. 9M | $11. 9M | $232. 6M | $19. 8M | $172. 6M | $14. 1M |
Cole Speed writes sayings. A lot of them. Most of those sayings can be found in gambling publications such as PlayIllinois, iGaming Business, Games Today, Extra.com, MidwestSharp.com, ICE 365, and IGB America. Cole also covers pop culture and books on Tor.com and TheQuillToLive.com. Cole has more than eight years of experience writing about gambling and entertainment.
