Iowa and Indiana See Sports Betting Slump in May

Most states saw a decline in sports betting figures in May, and Iowa and Indiana are not much different. The slump may last until football season, experts say, when bettors have a reason to start placing wagers again.

Iowa

Iowa sports betting experienced a month-on-month decline between May and April, according to the Iowa Racing and Gaming Commission (IRGC), making it the second consecutive decrease in the Hawkeye State. May’s handle reached $114.9 million in May, down 2.9% from April’s $118.4 million and a significant drop from March’s high of $161.4 million. Revenue for sports betting operators totaled $6.1 million, 20.8% lower than April.

From May’s $114.9 million handle, $99.9 million in bets were made online, amounting to 87%.

William Hill remained the market leader, taking about $37.5 million in bets. DraftKings came in second with $33.8 million. FanDuel and BetMGM, which both offer sports betting through Diamond Jo casino licenses, took $27.6 million in bets.

Indiana

Indiana sports betting revenue also experienced a decrease in May, falling 5.5% from about $20 million in April to $18.9 million. The decline in revenue came despite a 7.6% increase in handle, which hit $254.4 million in May compared to April’s $236.4 million. The state collected $1.8 million in taxes, down from April’s $1.9 million.

The most bet-upon sport in May was basketball, racking up $82.4 million in bets.

Ameristar Casino, which partners with DraftKings and Score Media and Gaming Inc., took in the lion’s share of bets with $89.2 million. The Blue Chip Casino and its partner FanDuel came in second with $79.3 million in online bets and $704,224 in-person bets.