In April, Iowa’s sports betting revenue saw a significant drop from the previous month. The dip, while notable, was anticipated following the excitement of March, which featured both the men’s and women’s NCAA basketball tournaments. With fewer major sporting events in April, particularly before the NBA and NHL playoffs gained momentum, the state’s betting activity slowed down.
April’s sports betting revenue reached $14.1 million, a sharp 40% decline from March’s $19.8 million. The total sports betting handle followed a similar trend, with wagers in April amounting to $172.6 million—down 35% from March’s impressive $232.6 million.
Post-March Madness Dip Expected in Iowa Betting Activity
Since legalizing sports betting in 2019, Iowa has consistently shown a preference for online wagering over retail options. This trend remained evident in April, even as the numbers took a dip after March’s peak betting season, largely fueled by college basketball.
March Madness was a major event for Iowan bettors, with six of the state’s college basketball teams competing in the NCAA tournament. Although many teams were eliminated early, the Iowa Hawkeyes women’s basketball team, led by Caitlin Clark, made an unforgettable run to the championship game, ultimately falling short to LSU in a 102-85 loss.
With no major professional sports teams in Iowa, the NCAA tournament remains a crucial event for bettors. The month of March saw high engagement, making the subsequent drop in April both predictable and reflective of typical seasonal fluctuations in sports betting. Despite the April slowdown, Iowa’s sports betting market has remained stable overall in 2024, proving resilient even in less active months.
Source : https://www.playia.com/iowa-sports-betting-numbers-dip-in-april/
