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Iowa sports betting revenue declines in March despite increase in handles

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Sports betting revenue in Iowa fell 8.5% year-on-year to $18.2m (£14.4m/€16.8m) in March, although the Hawkeye State reported an increase in stakes.

Player spending on sports betting was $272.4 million in March. That was 17.1% more than Iowa's $232.6 million last year and also 23.5% more than February's $220.6 million.

Online sales reached $254.2 million in March, while another $20.4 million was wagered at retail sportsbooks across the state.

However, higher expenses could not halt the decline in revenue. March's $18.2 million was down from $19.9 million last year, but exceeded February's $11.9 million by 52.8%.

Online sports betting revenue reached $16.5 million, while retail revenue was $1.7 million.

FanDuel and Diamond Jo Dubuque lead the field in Iowa

FanDuel and partner Diamond Jo Dubuque remain by far the leaders in Iowa. In March, the partnership generated $5.3 million in revenue with a total bet of $69.2 million.

DraftKings and Wild Rose Jefferson retained second place, reporting monthly revenue of $2.9 million. Players spent $44.8 million on retail and online sports betting.

Wild Rose Clinton, another DraftKings partner, again took third place with $2.2 million in sales and $32.6 million in total handle. Wild Rose Emmetsburg, the third Wild Rose property in Iowa, wasn't far behind with $2.0 million in revenue from $27.9 million in bets.

Diamond Jo Worth, which like its sister property Dubuque is partnering with FanDuel, also had a good month. In March, this partnership generated $1.4 million in revenue with total stakes of $21.7 million.

Iowa players won $254.2 million during the month while the state collected $1.2 million in taxes.