Iowa sports betting handle up 24% in May

Sports Betting

Iowa sports betting handle was £182.5 million in May up 24%, betting on major games and events was led by DraftKings & FanDuel the sports betting giants are the go-to options for many bettors in Iowa, partly because of what they offer for the biggest games and tournaments.

Two smaller sportsbooks, Bally Bet and Tipico, topped $1 million handle for the first time while having wildly different outcomes. Bettors came out $29,585 ahead against Bally Bet, its second-worst monthly loss behind the $36,870 handed out above the $230,587 handled last December. Tipico had its first month with a six-figure revenue haul, winning $103,681 against $1.1 million handle for a 9.6% hold.

Revenue was down 8.4% compared to last year as the hold was nearly two full percentage points lower than March 2023. The state collected $1.2 million in taxes for the month, lifting the total for the first quarter of 2024 to $3.6 million.