Iowa Sees Sports Betting Surge In March 2022

Iowa’s sportsbooks handled $233.5 million in wagers in March, up compared to both last month’s handle and March 2021’s handle.
March was Iowa’s second-strongest sports betting revenue month since launch, with sportsbooks generating a combined $14.4 million in sports betting revenue.

DES MOINES, Iowa – Iowa enjoyed a really solid March from a sports betting handle and revenue perspective according to a monthly report released by the Iowa Racing and Gaming Commission.

Iowa Sports Betting Handle Up Year-Over-Year And Month-Over-Month

According to the report, sportsbooks in Iowa turned over $233.5 million in wagers during March. Of this total handle, $208.3 million was bet at Iowa’s online sportsbooks. The $25.3 million remaining was wagered at retail sportsbooks.

Iowa’s sports betting handle for March looks even better when compared to Iowa’s total handle from a year ago, March 2021, when sportsbooks handled just $161.4 million.

March’s total handle was also up considerably compared to February’s handle of $215.9 million, partly due to March Madness betting.

March Brings Second-Largest Revenue Figure For Iowa Sportsbooks

Revenue was also up for Iowa’s sportsbooks during March. In the month, sportsbooks in Iowa generated $14.4 million in combined sports betting revenue.

This figure is a solid improvement compared to last March when the sportsbooks generated $13.5 million in combined revenue.

The total revenue figure for March also represents the second-largest monthly revenue total for Iowa since launch, only falling short of November 2021’s historically-large revenue figure of $19.7 million.

Of the total monthly revenue figure, online sportsbooks generated $12.6 million in revenue with retail sportsbooks contributing the remaining $1.8 million.

The increase in revenue is encouraging for Iowa’s legal sports betting market. Last March’s $13.5 million revenue total was – at the time – the largest revenue figure Iowa had generated since launch.

Surpassing last year’s total is a promising sign that Iowa has not yet seen its best sports betting days.

Diamond Jo Casino Dubuque, Betfair Biggest March Winners

There are currently 19 operational retail sportsbooks in Iowa to go with 18 online sportsbooks.

In March, The Diamond Jo Casino in Dubuque (operating FanDuel Sportsbook) had the strongest showing of retail sportsbooks, generating $3.9 million in revenue on a $48.8 million handle.

The Casino Queen Marquette (operating Fubo Sportsbook) was the only retail sportsbook not able to stay in the black for the month, reporting a $3,635 loss.

Betfair Sportsbook had the best March of Iowa’s online sportsbooks, finishing the month with $3.7 million in revenue on a $47.5 million online handle. DraftKings ($2.79 million in revenue) and BetMGM ($2.27 million in revenue) rounded out Iowa’s top-three online sportsbooks for March.

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Jerad Paparella

Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.