Iowa’s casino and sports betting drop in fiscal year 2023

Iowa’s casino and sports betting drop in fiscal year 2023

Article brief provided by The Gazette
  • Erin Murphy, The Gazette
November 26, 2023 9:08 PM
  • Erin Murphy, The Gazette

Gamblers bet more than $4 billion at Iowa-licensed casinos and sportsbooks in fiscal 2023, and even that average of nearly $11 million a day in wagers represented a decline for both in-person casino and online sports betting.

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Iowa’s sports betting revenue dropped in the fiscal year that ended in June for the first time since the Iowa Legislature legalized it in 2019.

And it was a significant drop: There was $2.247 billion in sports bets made in the 2023 state budget year, down from $2.455 billion in the same period the previous year — an 8.5% decline, according to state figures.

For just the second time in the past decade — but excluding the worst pandemic year — casino gambling revenue in Iowa also dropped from the previous year.