U.S. state revenue increased year-over-year in July due to increased consumer spending on sports betting in Iowa.
Players’ sports bets were $108.6 million in July, up 22.2% from $88.9 million in the same month last year, but 11.3% lower than June’s $122.4 million .
Of this total, $98.4 million was spent on online sports betting and $10.2 million on retail sportsbooks statewide.
In terms of revenue, this is a 57.7% year-on-year increase from $7.1 million in July 2021 and a 33.3% increase from $8.4 million in June this year. Online sports betting generated $10.1 million in revenue and $1.1 million in retail.
When monthly performance is broken down by individual operators, Dubuque’s Diamond Jo, who owns the FanDuel sportsbook, was the clear leader with $2.6 million in revenue from $26.6 million in handles.
Jefferson’s Wild Rose, which operates in partnership with DraftKings, comes in second with $1.1 million in revenue and $12.5 million in handles, while Grand Falls Casino Resort and Betfred have relatively smaller $2.3 million handles. Despite this, it came in third with $1.1 million in revenue.
The Iowa Racing and Betting Commission also revealed that regulated sports betting activity in June generated $754,292 in tax revenue for the month.
Also last month, Swedish igaming hosting company Internet Vikings announced the opening of operations in Iowa.
This rollout means Internet Vikings can now work with licensed operators across the state and support them with their Igaming products.
Iowa is the latest US state for Internet Vikings to launch an igaming hosting business, including Arizona, Colorado, Illinois, Indiana, Louisiana, Maryland, Michigan, New Jersey, Ohio and Pennsylvania. It also operates data centers in the state, Tennessee, and West Virginia. .
