Iowa sports betting revenue dipped in April compared to the previous month. The drop wasn’t unexpected. The men’s and women’s NCAA basketball tournaments took place in March, while the NBA and NHL playoffs had just gotten underway near the end of April.
Revenue in April from sports betting was $14.1 million, while March revenue topped out at $19.8 million, a 40% drop in April.
Total sports betting handle was $172.6 million in April, down 35% from March’s $232.6 million.
A predictable post-madness lull
Iowa sports betting began in 2019, both retail and online. As was the case from the beginning of sports betting in The Hawkeye State, bettors prefer online betting by a huge margin.
March was a big month of betting in Iowa. All six major college basketball teams in the state made the NCAA tournament this year. Unfortunately, Iowa men’s and women’s teams, Iowa State men’s team, and both Drake teams suffered early March Madness exits.
The Iowa Hawkeyes women’s basketball team led by Caitlin Clark made an incredible run, though, making it all the way to the championship. They lost to LSU, 102-85.
March is a big betting month everywhere, but especially in Iowa. With no major professional teams to bet on, Iowans go all in for college sports, especially March Madness.
Despite a low handle in April, Iowa sports betting has been solid so far this year.
Iowa Sports Betting in 2023
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