In February, Iowa’s sports betting revenue surged by 14.3% compared to the same period last year, reaching $13.6 million. This figure marked an increase from the $11.9 million generated in February 2023, although it was down 38.5% from the $22.1 million generated in January of this year.
While the overall revenue showed positive momentum, there was a notable decline in the retail sector, with a $215,241 loss impacting the final total. Despite this setback, online sports betting revenue soared to $13.8 million during the month, contributing to the overall growth trajectory.
As for handle, $220.6 million was wagered on sports in February, representing a 13.8% increase from the previous year. However, this figure was 15% lower than the record-breaking $259.5 million wagered in January 2023. Of the total handle, online betting accounted for $203.8 million, while retail sportsbooks across the state saw $16.7 million in wagers.
FanDuel and Diamond Jo Dubuque continued to dominate the market, maintaining their positions as the top revenue generators. The partnership between the two entities generated $4.6 million in revenue from a total of $56.5 million in wagers during February.
DraftKings and its partner Wild Rose Jefferson secured the second position once again, with revenue amounting to $2.2 million. Players wagered a combined total of $36.2 million across both retail and online platforms associated with the partnership.
Wild Rose Clinton, another DraftKings partner, emerged in third place, raking in $2.0 million in revenue from $28.8 million in wagers. The third Wild Rose property in Iowa, Wild Rose Emmetsburg, closely followed with $1.8 million in revenue generated from $22.5 million in wagers.
February also marked the debut of Fanatics in the Iowa market, replacing the PointsBet brand. However, the revenue from its partnership with the Catfish Bend Casino amounted to just $62,402 from $4.4 million in wagers, indicating a relatively modest start for the newcomer.
Iowa players won $206.6 million for the month, while the state collected $936,744 in tax.
