Iowa sportsbook's total handle rise to $233.5 million on March Madness
April 14, 2022
The Iowa Racing and Gaming Commission released a report last week’s Friday on Iowa’s sportsbook total handle in March 2022. Sports betting companies receive $233.5 million of wagers within the states last month which shows the enthusiasm Iowans have for March Madness.
The amount waged last month increased by 8.2 percent from February’s total handle of $215.9 million. The number is also a significant increase from March 2021 last year by 44.7 percent with a total handle of $161.4 million. Iowa Racing and Gaming Commission said Iowans have wagered $752.8 million in 2022.
Iowa's Teams Achievements
NCAA Men’s Basketball Tournament leads the sports betting of the month as it became the most waged ever of all Madness. But the state’s team ironically did not do so well in the competition as they lost in the first round against Richmond.
“Iowa’s men and women won the Big Ten Conference tournaments and received automatic NCAA Tournament bids. Iowa State’s basketball teams reached the Sweet 16 in both editions of March Madness. That generated significant enthusiasm statewide, and showed in March’s wagering patterns,” Mitchell said.
Caesars may be one of the leading companies in the betting world with a total handle of $1 billion. But they did worse lately with a drop from $112.7 million of handles in January to $111 million of a handle in February and March.
Iowa Newcomer sportsbook mobile operator DraftKings leads the scoreboard in the state with the highest generated handle in one month. The newbie tops bigger operators including William Hill and even Caesars who usually hold the title.
DK handled a total wager of $64.9 million with a 31.1% online market share whereas Caesars went second with $49 million. Tailing Caesars closely behind is FanDuel with an all-time high of $47.5 million in total wagers.
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