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Caitlin Clark of the Iowa Hawkeyes reacts in the second half as we look at the Iowa sports betting financials for April 2024.
Caitlin Clark of the Iowa Hawkeyes reacts in the second half during the 2024 NCAA Women's Basketball Tournament National Championship on April 07, 2024. Photo by Steph Chambers/Getty Images via AFP.

Iowa sports betting financials for April 2024 are out and revealed mixed results. While overall betting activity was predictably down from March when the bulk of the NCAA Basketball tournament dominated the wagering action, year-over-year numbers were encouraging, and our best sports betting sites flourished.

The Iowa Racing and Gaming Commission April revenue report doesn't break handle numbers down by sport, but it is obvious that the state experienced a Caitlyn Clark bump during the month. The Clark-led Iowa Hawkeyes played two games in April and were the top two most-watched women's basketball games ever.

Regarding handle, April 2024 is by far the best April ever for Iowa sports betting apps and retail providers in the state. 

$209.5 million in accepted bets

Iowa bettors spent a total of $209.5 million with Iowa sports betting sites in April. While understandably down 23.1% month-over-month from the $272 wagered in March, that figure does represent a 21.4% year-over-year increase from the $172.6 million in April 2023.

It could be the last time the Iowa handle eclipses $200 million until September and the start of the NFL season.

Iowa sports betting apps made up $196.6 million of the state's overall handle, while $12.9 million came from retail sportsbooks in the state.

$16.5 million April revenue

Iowa's best sports betting sites rode a pedestrian 7.9% hold to $16.5 million in adjusted revenue after deductions and promotions. Residents can take advantage of several Iowa sportsbook promos. The handle is a predictable 9.3% drop from March when it was $63 million higher. However, it is a 17.1% year-over-year increase from the $14.1 million in April 2023.

Iowa sports betting apps accounted for $15.7 million of the state's overall revenue, while retail contributed just over $812K. 

Tax revenue paid out by Iowa sports betting providers came in at $1.1 million in April. It takes the Iowa year-to-date tax contribution total to $4.8 million, $641,000 ahead of last year's pace.

DraftKings leads the way

In the battle to be the best Iowa sports betting site, DraftKings prevailed in both handle and revenue. DraftKings Iowa took in $73.1 million in bets and reported $6.2 million in earnings from an 8.5% hold.

FanDuel Iowa was second with $57.4 million in accepted bets and $5.8 million in revenue from a 10.1% hold. Caesars Sportsbook Iowa was third with $20.6 million in wagers and $964,000 in revenue off of an ugly 4.7% win rate.

BetMGM was fourth with a $14.7 million handle with $934,300 in revenue off a 6.4% hold rate. bet365 was next with an $8.7 million handle, and ESPN BET checked in with $7.5 million in April wagers.