Iowa Sports Betting Sees Rise in Handle and Revenue in January
Date: 2024-02-13 Author: Dima Zakharov Categories: SPORTS BETTING
Iowa sports betting witnessed a positive trend in January, with total consumer spending reaching $259.5 million. This marks an 11.1% increase compared to the same period last year. However, it represents an 8.2% decline from December's figures.
Revenue for January stood at $22.1 million, reflecting a significant year-on-year growth of 33.9%. Nevertheless, it fell short by 16.0% compared to December's revenue.
FanDuel and Diamond Jo Dubuque maintained their lead among operators, generating $8.0 million in revenue from $68.0 million in bets. DraftKings and partner Wild Rose Jefferson followed, securing $3.1 million in revenue.
In recent developments, Fanatics Betting and Gaming (FBG) announced the launch of its sportsbook in Iowa, replacing the PointsBet brand. The existing PointsBet retail sportsbook at Catfish Bend Casino will undergo rebranding as a Fanatics Sportsbook, equipped with new self-service betting kiosks.
The entry of Fanatics into the Iowa market marks its 12th state presence, signaling a strategic expansion phase following the acquisition of PointsBet US. Catfish Bend Casino reported $311,186 in revenue from $3.7 million in bets for January.
