Just three months ago, Iowa reported a legal sports betting handle of over $230 million. Now with fewer sports to attract the casual bettor, Iowa’s betting market has fallen over 50% in June.
The Iowa Racing and Gaming Commission announced that the state accepted $115.5 million in wagers last month, a 21.8% decrease compared to May. That’s three straight months with a decreasing handle, all by double-digit percentages.
While May’s decrease in action was buoyed by a jump in revenue, June did not see the same luck for retail and online sports betting sites. Last month, operators saw just $7.1 million in net receipts, well short of the $16.6 million that was brought in during May.
