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Iowa reports less than $89m in sports wagering for July; revenue also falls

Iowa recorded less than $89m in sports betting for July, a 20% drop from the $111.2m reported in June, and it marks a fourth straight month of declining revenue.

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The month also saw the lowest handle in the state since November 2020, as bettors placed $2.9 million per day 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 handle in July with $31.1m in total wagers.

Wild Rose, which includes DraftKings and BetRivers, reported $25.2m in online and retail wagering. Diamond Jo, powered by FanDuel and BetMGM, recorded $21.4m in combined wagers. Bally Bet collected $1.1m in wagers during its first month of operations.

Net operator revenue for the month was $7.1m, a 16% decline from June's $8.4m, with $479,479 in tax revenue.

Historically, the month of July has the lowest betting volume in the country, but analysts expect a recovery soon.

“The Olympics and the later-than-usual NBA Finals gave bettors more opportunities to place a bet than what would be a typical July, but neither were able to move the needle much,” said Jessica Welman, Analyst for the PlayUSA.com Network.

"Bettors simply check out in July, when summer vacations and other pursuits take precedence. But a surge in betting will certainly come with the beginning of the football season.”

During the two years that Iowa sportsbooks have been operational, it has generated $1.7bn in wagering, $122.8m in gross gaming revenue and $8.3m in tax revenue.

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