May 2022 Iowa sports betting numbers pushed the state past the $1 billion mark for the calendar year, even as the industry slows a bit over the summer months.
The Iowa Racing and Gaming Commission (IRGC) released the latest figures on Friday. Iowa customers placed $147.9 million in May 2022 wagers at Iowa’s 18 sportsbook companies. The number is down 17% from April’s $177.4 million.
The total is up 29% from $114.9 million for the month of May a year ago, however.
From Eric Ramsey an analyst for the PlayUSA.com Network:
“Sportsbooks in the US have entered the summer slowdown, and Iowa certainly isn’t immune to the lull in the sports calendar. Still, the broader year-over-year trends underscore the health of this market and its potential to surge to new records when football season arrives again.”
The market might look modest when the IRGC releases June and July numbers — even with NBA and NHL championships, baseball, golf, tennis and auto racing to bet on.
Look for a small uptick in August sports bets. The industry should roar back to life starting in September when college football and the NFL return. November 2021 was the biggest sports betting month in Iowa history.
Iowa reaches $1 billion mark early in the calendar
With $1,078,058,077 in bets collected, Iowa passed the $1 billion mark within the first five months of 2022. To put that into perspective, it took the state eight months to pass the $1 billion threshold a year ago.
“Iowa is well on its way to another record year of volume, tracking more than 50% ahead of last year’s pace through five months,” Ramsey said. “If the rest of 2022 goes as we anticipate it will, the $3 billion milestone appears to be in reach.”
Iowa sports betting numbers for May 2022
The casinos reported $12.6 million in sports wagering net receipts. The state collected $850,598 in taxes for the month. About 91% of the month’s sports bets were placed online.
|Diamond Jo Dubuque||FanDuel | Betway||$31,616,530||$3,758,994||11.9%||$253,732|
|Diamond Jo Worth||BetMGM||$20,174,466||$1,788,362||8.9%||$120,714|
|Wild Rose Jefferson||DraftKings | BetRivers | Circa||$18,822,911||$1,364,876||7.3%||$92,129|
|Wild Rose Clinton||DraftKings | BetRivers||$14,577,666||$1,084,210||7.4%||$73,184|
|Wild Rose Emmetsburg||DraftKings||$10,271,331||$843,143||8.2%||$56,912|
|Ameristar Council Bluffs||theScore Bet | Barstool||$8,176,889||$693,976||8.5%||$46,843|
|Horseshoe Council Bluffs||Caesars||$4,441,325||$381,870||8.6%||$25,776|
|Harrah's Council Bluffs||Caesars | Unibet||$2,898,403||$219,449||7.6%||$14,813|
|Grand Falls||Betfred | Bally Bet||$1,329,900||$67,788||5.1%||$4,576|
|Hard Rock Sioux City||Hard Rock||$1,269,764||$29,728||2.3%||$2,007|
|Lakeside||Caesars | DRF||$529,385||$29,435||5.6%||$1,987|
|Casino Queen Marquette||Fubo||$157,303||$13,287||8.4%||$897|
Industry watch: Does Iowa have a new ruler?
For the first time since the IRGC released revenue numbers by company, a sportsbook other than Caesars has found a consistent spot at the top.
DraftKings Sportsbook IA ascended to the throne in March for the total amount wagered by customers. The win snapped a five-month Ceasar’s winning streak in Iowa. DK repeated the feat in April and retained its throne in May. Now, FanDuel has caught Caesars for second place as well. The state’s top four sportsbooks collect about 86% of Iowa’s online betting dollars.
Here’s a look at the “Big Four” in May. The figures exclude sports bets at brick-and-mortar casinos:
- DraftKings — $38.5 million
- FanDuel — $31.0 million
- Caesars — $30.1 million
- BetMGM — $16.4 million
IRGC staff began a breakdown of online sports betting receipts in July 2021, when the new fiscal year began. Caesars led in 7 of the 11 months since the tracking began. Aside from the current three-month winning streak, DraftKings also finished ahead of Caesars in September 2021.