Iowa sports betting volume dropped for the fourth straight month. It took less than $89 million in wagers in July. Also, it was the 24th month of sports wagering in the state. The volume decrease in July was the lowest in the state’s history.
July was the slowest month for sports betting in the US. Unfortunately, the NBA Finals and the Olympics can’t reverse the downward trend in Iowa. Although the NBA Finals and the Olympics gave players more betting opportunities, neither event was able to bring more action.
Players avoided making wagers in July. Instead, they enjoyed their summer vacations. However, bookies are expecting a surge in sports wagering with the start of the NFL season. As a result, it would be the right time to start a sportsbook.
Iowa Sports Betting Volume
Iowa’s online and retail sportsbooks took in $88.9 million in July, down 20% from $111.2 million in June. As a result, the month-over-month decreases continued to four months. In addition, July denoted the least handle in the state since November 2020, as bettors put $2.9 million every day over the 31 days of July, well shy of the $3.7 million every day in June.
According to sports betting software reviews and news sites, the wagering volume results pursued a historical trend. The pandemic slanted 2020 information; however, July’s most reduced volume month across the US in both 2018 and 2019. The lift in volume pushed net administrator income to $7.1 million in June, down 15.7% from $8.4 million. That came about in $479,479 in charge income for the state.
Baseball and basketball held the vast majority of Iowa’s wagering water in July. Iowa set up a careful system for Olympics wagering, limiting betting on single occasions, including competitors younger than 18. That took a portion of the wagering stock off the board. Nevertheless, you can be a successful bookie with a bookie PPH in time for football season.