Iowa sports betting revenue falls 36.4% in November
Iowa’s regulated sports betting market has recorded a 36.4% month-on-month decline in revenue for November, after a rise in handle was accompanied by an increase in payouts to customers.
Amounts wagered for the month were up 27.6% from October at $59.3m, with signs that the gap between retail and internet is starting to widen.
Total retail handle for the month climbed 24.8% to $25.7m, with online ahead on $33.7m, up 29.9%, the figures from the Iowa Racing and Gaming Commission show.
However, a total of $55.7m was paid out to customers in November, leaving revenue of $3.6m, compared to $5.7m for the prior month. Retail’s revenue contribution - $2.1m - was once again higher than online, which accounted for the remaining $1.5m.
Looking at the individual licensees, the William Hill-powered sportsbook at Prairie Meadows Racetrack & Casino continued to lead the market, with revenue of $1.0m, down 40.6%. This comprised $159,449.60 from its retail sportsbook, and a further $879,136.11 from online.