Based on March 2022 betting numbers released Friday, Iowa sportsbook customers were happy to follow their teams through March Madness.
The Iowa Racing and Gaming Commission (IRGC) said sports betting companies took in $233.5 million worth of bets in March 2022. That compares to:
- $215.9 million wagered in February. March betting volume increased by 8.2% month-over-month, based on Friday’s totals.
- $161.4 million in March 2021. So, compared to the same month a year ago, sports betting increased by 44.7% year-over-year in 2022.
From Russ Mitchell, lead analyst for PlayIA.com:
“March Madness is typically the busiest non-football month of the year in the sports betting industry, and Iowa did not disappoint. Sportsbooks also got a significant boost from the state’s schools. Iowa’s men and women won the Big Ten Conference tournaments and received automatic NCAA Tournament bids. Iowa State’s basketball teams reached the Sweet 16 in both editions of March Madness. That generated significant enthusiasm statewide, and showed in March’s wagering patterns.”
More March 2022 numbers
- $208.2 million or 89.1% of Iowa’s $233.5 million in sports bets were placed online.
- Sports betting generated $972,991 in tax revenue for the state in March.
- The $14.4 million in revenue was up 6.7% from $13.5 million in March a year ago.
- DraftKings topped the online market with $64.9 million in wagers, which yielded $2.8 million in net receipts. Caesars was No. 2 with $49 million in online wagering, producing $2.2 million in revenue. FanDuel was a close third, with $47.5 million in bets and led the state with $3.7 million in net receipts.
| Licensee | Online Brand(s) | Handle | Online Handle | Retail Handle | Revenue | Taxes (6.75%) |
|---|---|---|---|---|---|---|
| Isle Bettendorf | Caesars | $6,392,741.03 | $5,955,349.31 | $437,391.72 | $338,291.07 | $22,834.65 |
| Diamond Jo Dubuque | FanDuel | Betway | $48,766,268.29 | $47,992,558.29 | $773,710.00 | $3,896,351.43 | $263,003.72 |
| Wild Rose Jefferson | DraftKings | BetRivers | $31,278,012.47 | $31,029,961.79 | $248,050.68 | $1,440,413.36 | $97,227.90 |
| Diamond Jo Worth | BetMGM | $30,499,021.48 | $22,555,102.73 | $7,943,918.75 | $2,619,373.74 | $176,807.73 |
| Prairie Meadows | Caesars | $22,005,582.03 | $20,992,516.91 | $1,013,065.12 | $1,091,092.18 | $73,648.72 |
| Wild Rose Clinton | DraftKings | BetRivers | $21,646,708.57 | $21,500,712.12 | $145,996.45 | $917,318.50 | $61,919.00 |
| Wild Rose Emmetsburg | DraftKings | $17,692,829.32 | $17,567,258.75 | $125,570.57 | $814,650.34 | $54,988.90 |
| Ameristar Council Bluffs | theScore Bet | Barstool | $13,211,030.47 | $8,131,471.96 | $5,079,558.51 | $896,048.29 | $60,483.26 |
| Horseshoe Council Bluffs | Caesars | $8,927,935.52 | $5,250,060.30 | $3,677,875.22 | $467,079.42 | $31,527.86 |
| Catfish Bend | PointsBet | $5,580,483.40 | $5,338,404.75 | $242,078.65 | $479,179.58 | $32,344.62 |
| Lakeside | Caesars | $730,348.13 | $440,484.67 | $289,863.46 | $32,453.26 | $2,190.60 |
| Isle Waterloo | Caesars | $13,045,967.11 | $12,705,247.31 | $340,719.80 | $492,267.92 | $33,228.08 |
| Harrah's Council Bluffs | Caesars | Unibet | $4,802,175.97 | $4,365,948.49 | $436,227.48 | $180,016.27 | $12,151.10 |
| Grand Falls | Betfred | Bally Bet | $2,465,036.97 | $721,232.78 | $1,743,804.19 | $197,450.12 | $13,327.88 |
| Riverside | Elite | $2,264,743.85 | $1,877,530.15 | $387,213.70 | $227,625.77 | $15,364.74 |
| Hard Rock Sioux City | Hard Rock | $1,637,152.07 | $817,248.82 | $819,903.25 | $187,183.10 | $12,634.86 |
| Rhythm City | Elite | $986,182.50 | $491,105.71 | $495,076.79 | $41,417.32 | $2,795.67 |
| Q Casino | Q Sportsbook | $1,247,206.55 | $218,651.65 | $1,028,554.90 | $96,469.89 | $6,511.72 |
| Casino Queen Marquette | Fubo | $346,048.75 | $318,718.63 | $27,330.12 | ($3,635.78) | $0 |
| Total | $233,525,474.48 | $208,269,565.12 | $25,255,909.36 | $14,411,045.78 | $972,991.01 |
Iowa sports betting customers have wagered $752.8 million so far in 2022, according to the IRGC.
What’s ahead in 2022
From Eric Ramsey, analyst for the PlayUSA.com Network, which includes PlayIA.com:
“Sportsbooks typically slow after March, even with the NBA playoffs, baseball, and major golf tournaments. But Iowa’s industry is on excellent footing heading into the slower summer months, and is poised for another big jump forward this fall when football returns.”
Monthly totals in 2022 should continue to outpace their corresponding months in 2021. Iowa customers are more comfortable with sports bets as an entertainment option.
Plus, new sports betting operators are ready to execute their Iowa casino contracts and enter Iowa’s robust marketplace. Look for some soft launches and generous sign-up offers over the spring and summer.
Meanwhile, the NBA’s Chicago Bulls, Milwaukee Bucks and Minnesota Timberwolves are all in line for postseason play.
For regional hockey bets, fans likely won’t have the Chicago Blackhawks as an option in the Stanley Cup Playoffs, but the Minnesota Wild and St. Louis Blues are having strong seasons.
Iowa sportsbooks have USFL odds, so the introduction of spring football will be another development to watch.
