Iowa recorded less than $89m in sports betting for July, a 20% drop from the $111
Iowa recorded less than $89m inwards sports betting for July, a 20% unload from the $111.2m reported in June, and it marks a 4th consecutive month of declining revenue.
The month also saw the lowest hold inward the body politic since Nov 2020, as bettors placed $2.9 jillion per twenty-four hours over the 31 days of July.
In total, 88% or $77.9m of the state’s bets were placed online, while retail accounts for the remaining $11m.
Caesars Sportsbook generated 35% of Iowa’s hold inward July with $31.1m inward add wagers.
Wild Rose, which includes DraftKings and BetRivers, reported $25.2m inwards online and retail wagering. Diamond Jo, powered by FanDuel and BetMGM, recorded $21.4m inwards combined wagers. Bally Bet self-collected $1.1m inward wagers during its foremost month of operations.
Net manipulator revenue for the month was $7.1m, a 16% correct from June's $8.4m, with $479,479 inwards assess revenue.
Historically, the month of July has the lowest betting volume in the country, but analysts look a recovery soon.
“The Olympics and the later-than-usual NBA Finals gave bettors more opportunities to localise a wager than what would live a typical July, but neither were able to make a motion the goad much,” said Jessica Welman, Analyst for the PlayUSA.com Network.
"Bettors simply check off out inwards July, when summer vacations and other pursuits occupy precedence. But a upsurge inwards betting will certainly come with the start of the football game season.”
During the II years that Ioway sportsbooks make been operational, it has generated $1.7bn in wagering, $122.8m inwards 144 gaming revenue and $8.3m inward task revenue.