Iowa's July 2023 gambling report shows a 4% decrease in gaming revenue


Updated:2024-03-25 13:58    Views:188


Key points: 

- Total sports wagering handle totals $109.7m

- Total gaming revenue $150m

- Total fantasy sports revenue $58,113

Sports Wagering

The total handle for sports betting in Iowa was recorded to be $109.7m, a 1% increase year-on-year, with online sports wagering platforms accounting for $101.3m of this total.

Net receipts, or profits, saw a 5% decrease from July 2022’s numbers, with the latest total reaching $10.6m.

This could be facilitated by the $99.1m in total payouts, a 2% increase.

The above graph shows the sports wagering handle for the month of July 

The venue with the highest handle, Wild Rode Jefferson, recorded a sports wagering handle of $15.8m, a 21% increase year-on-year.

This was comprised of $12,879 in retail bets and $15.76m in online wagers.

Crown IA Gaming, otherwise known as DraftKings, contributed the highest handle in the online sports wagering sector with $37.4m, an increase of 28% year-on-year.

Crown IA Gaming also recorded the highest handle out of the online platforms in July 2022 at $26.6m, compared to Betfair in second place, with $26.2m.

This year, Betfair had a total handle of $25m.

Gaming

The adjusted gross revenue for gaming in Iowa was $150m in July 2023, a 4% decrease when compared to last year's figures.

When broken down into the two main segments of casino game types, table revenue accounted for $14.4m,Table games while slot machines made up the rest with $135.6m.

The above graph shows the distribution of revenue across different types of slots in Iowa 

Although they have the lowest revenue, $100 slots had the highest revenue percentage of 14%, followed by penny slots, which had the highest revenue and second highest revenue percentage of 11%. 

Across the state, a total of 1.5 million people were admitted into physical casino venues, with Prairie Meadows Racetrack & Casino recording the highest amount with 208,127 visitors.

This correlates with the fact that Prarie Meadows Racetrack & Casino also saw the highest gross revenue out of the physical casinos at $20.8m. 

Blackjack proved to be the most popular table game in 2023 in Iowa, accounting for $4.6m in revenue from $25.5m in table drop, a 13% decrease and a 6% increase respectively.

The above graph shows the revenue of different table games in Iowa

Fantasy Sports

The total fantasy sports revenue from both DraftKings and FanDuel came to $58,113 for July 2023, a 28% decrease from last year.

When looked at individually, the FanDuel revenue of $8,337 was a 64% increase, while the DraftKings revenue of $49,796 was a 34% decrease.

There were fewer contests held by both companies for Iowa participants too, with 102,868 marking 18,052 less events by DraftKings – and 2,903 from FanDuel being 689 less than last year too.