Iowa has a great year in terms of sports in the NCAA Tournament. Most wagers that get action in sports betting software when it comes to collegiate sports tend to go to men’s sports. But women’s sports is actually quite lucrative, and you can see that in the Iowa sports betting handle for the month of March.
According to the latest report from the Iowa Racing and Gaming Commission, sportsbooks in the state took in $232.6 million in wagers for March, giving us a 16.7% increase from the betting handle of February. The hold percentage also jumps from 6.1% to 8.5%. Net revenue also almost doubles to $19.8 million. If you want to know more about these indicators, you can check these bookie tutorials.
Iowa Sports Betting Handle and Numbers
Out of the total handle, $209 million of the wagers come from online sportsbooks, while $23.6 million come from retail betting. Given the geography and population density of Iowa, online betting remains to be the more practical option that makes sports betting the most accessible to many. And when becoming a bookie, knowing your market will definitely help you earn more. In the case of Iowa, the state used to impose an in-person registration requirement for online betting. But when that regulation was removed, sports betting picked up in the state.
Historically, the state’s sportsbooks perform well during the peak of football and basketball season. Notably, the Super Bowl and March Madness. The state is home to a lot of popular sports teams, both collegiate and professional, so there is a huge market for sports betting. However, football is in the offseason, and the NBA is the only betting option for basketball bettors. This could mean a slight dip in the handle that could happen in the next few months, all the way until after summer.