Retail losses hit Iowa sports betting market in February
Iowa has reported net receipts of $755,334 from its sports betting licensees in February, down 76.6% month-over-month, after losses in the retail channel offset marginal growth in online revenue.
Total handle for the month fell marginally, however, dropping 1.9% to $56.9m, as a result of a decline in retail stakes. Amounts wagered online continued to grow, rising 11.6% to $37.8m, but this was wiped out by a 20.9% drop in retail stakes to $19.1m.
While online net revenue, after player winnings of $36.4m, were down marginally at $1.4m, retail bettors won $19.7m, resulting in a $614,574 loss for the channel and driving down the market total for February.