The highest Iowa sports betting handle in the last few months is back in December 2019, with a 59.259 million handle. That was the last of the streak since the state began to offer sports betting back in August 2019. The best sportsbook PPH software providers will usually see an increase in January, leading up to the Super Bowl. But in Iowa, things are different.
January 2020 shows a decrease in handle with $58 million. Next, would be another decline in February as Iowa records a $56.9 million total handle. This is the third month that the state is recording a decline in sports betting handle. This is a bit unusual, especially when we compare it to sports betting service companies as well as with other states.
Iowa Sports Betting Handle Decline
Normally, if you pay attention to bookie tutorials, you would know that February usually shows either a decline or a plateau of betting action. This is, after all, the conclusion of the Super Bowl. The handle will eventually pick up though. March Madness and the NBA playoffs are right around the corner. More fans will tend to place wagers, and futures odds will be an attractive option for bettors.
So if February is usually a bad month in terms of gaining increases in sports betting handle, then why is it bad for Iowa? Iowa does offer online sports betting. For February, $37.7 worth of wagers are from online bets. We see an 11.6% increase in mobile wagering, as January only shows $33.846 million. The problem that most experts see here, is the law.
While the state is somehow better than other states as they offer both retail and online wagering, it is not enough. Residents who want to place wagers are still required to go to a retail gambling store to register. Only then will they be able to place their bets in any licensed sportsbook, retail or online. This can be the biggest reason why growth is hampered in Iowa – good thing this part of the law will be done by January 2020. Until then, Iowa will have to make do with the slight inconvenience of bettor registrations.
