Sports Betting Updates Around the Country for 2021. Indiana and Iowa are separated by Illinois, but they still compete in the midwestern United States sports betting landscape. Indiana and Iowa had different months for sports betting. Indiana numbers were slightly up, and Iowa saw a decrease in sports betting enthusiasm in May.
Let’s take a look at the numbers for Indiana and Iowa.
Indiana Sports Betting in May
Indiana’s sports betting handle rose 7.6% to $254 million in May. The April handle was $236.4, so the wagering industry in Indiana could not be more excited. However, even though the state saw a handle increase, it was over $100 million less than the record in the state.
In January of 2021, Indiana collected $348.2 million in bets. Even though handle increased, the sports betting revenue still declined. Revenue matters more than handle when the final numbers are reported.
The taxable adjusted gross revenue was $18.9 million. That number declined 6.1% from April’s $20.1 million. The state collected $1.79 million in May from the total handle.
Mobile betting accounted for $234 million in May, which was 92% of the month’s total handle. The Indiana Gaming Commission released the numbers on Friday.
The top sportsbooks in the state were DraftKings, which is partnered with Ameristar Casino, and FanDuel Sportsbook, which is Blue Chip Casino. The DraftKings handle was $81.8 million, and FanDuel collected $79.3 million in wagers.
Barstool Sportsbook joined the Indiana market in May. The site was successful but not relative to DraftKings or FanDuel. The book launched on May 18 and took $6.32 in wagers.
Iowa Betting in May
Iowa sports betting has not performed well in the past two months. The handle has now dropped in April and May. March was a significant sport betting month for the state. However, it’s surprising that the handle did not rise in May.
The March handle was $161.44 million. It dropped to $118.36 million in April and $114.88 million in May.
The slide has not been shocking for the state. However, it has been very disappointing, but there should be better months in the future. Football is the most popular sport in Iowa between the NFL and NCAA.
January had significant bowl games and NFL playoffs. The state has performed better in the fall than in the spring. NBA and NHL playoffs, as well as MLB, have not sparked interest like football or college basketball in the state.
Online sports betting dominated Iowa’s handle like in Indiana. The online handle was $99.92 million. This number equated to 87% of the May handle. Learn more about other betting options such as the popular sportsbook parlay.
The revenue dropped drastically, which is typically the case when the handle goes down. The state collected $414,175 in taxes, which was approximately $107,000 less than in April.
A few new sportsbooks will enter Iowa in the coming months. PlayUp announced Tuesday that the book had secured market access in the state. PlayUp has launched in CO, and the site is currently undergoing the application process for New Jersey.
Additionally, BettHouse is expected to launch in Iowa in the next couple of months. The site was supposed to be available in April, but the implementation process is behind.
