Iowa saw sports betting volumes drop for the second consecutive month from May, lagging slightly behind the peak that had been reached just two months earlier.
Analysts warn the final slide on Hawkeye's state is a reminder that it likely won't happen before the NFL season begins, before the region's sports betting industry sees significant growth again.
Bettors put $114.9 million on Iowa sports betting in May, down 2.9%. $87.4m in bets generated in April and significantly less than the record $118.4m from March. Bets dropped to $ 3.7 million a day in 31 days in May from $ 3.9 million in 24 days in April.
The operator's net revenue in May was $ 6.1 million, down from $ 7.7 million a month earlier. This resulted in tax income amounting to $175,175. $87.9 million bets were made online, representing 87 percent of the state's total doorknob. Retail plants accounted for the remaining 15 million $, compared to the $13.8m.
"The summer slowdown is unavoidable, but Iowa bookmakers are in a much better position than they were at last year when there was still so much uncertainty," she said. Jessica Welman, PlayIA.com analyst.
“This summer, bookmakers will continue to innovate to keep players engaged in the remainder of the NBA season, baseball and other sports, including the Olympics. Compare that to last summer, when most of them were in survival mode. "
William Hill, who has partnered with six Iowa casinos, was once again the market leader with $34.6 million in betting, including $35.3 million in online betting. Total retail and internet sales of William Hill fell from $ 39.1 million in April to $ 1.1 million in net revenues.
Wild Rose, including DraftKings and BetRivers, he came second with $33.8m in online and retail betting, down from the $34.6m in April. $33.5 million of these bets were made online. Wild Rose generated $ 1.4 million in net revenues.
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Took $15.6 million in total betting, which included $15.3 million in online betting. The combined plants generated $ 2.5 million in net proceeds.
"New operators will push to start the football season, which will shake the market somewhat," added Welman. "But right now, it looks like the market leaders in the state of Iowa are entrenched."