New York and Iowa Register Drop in April 2023 Sports Betting Handle

New York and Iowa have released their sports betting revenue reports for April 2023, and the numbers have dropped sharply. New York registered $138.8 million in total gross gaming revenue, a 33.3% increase from $104.1 million in April last year. However, that's a 14.7% drop to $162.8 million in March 2023. 

Bettors in The Empire State spent $1.54 billion in bets on regulated operators compared to the $1.39 billion they spent in April last year. But despite the increase, there was a 14.7% month-to-month drop, with bettors wagering $1.79 billion in March. 

• Meanwhile, Flutter-owned FanDuel continued its market dominance across the United States. In New York, the sports betting app remains the frontrunner after collecting $626.3 million in betting handle and $71.0 million in revenues. 
• DraftKings came in second with $516.5 million and $44.9 million in bets and gains, respectively.
• In the third spot was Caesars Entertainment, with a $185.3 million handle and $1.8 million in total revenue, followed by BetMGM, with betting handles worth $126.7 million and $7.1 million in revenue.

Other regulated betting sites with six-figure revenue reports include Rush Street Interactive, with a $49.1 million handle and $803,291 in revenue, and Wynn Interactive, which posted $9.8 million in wagers and $465,081 in profits. Interestingly, PointsBet collected $20.7 million in wagers and $1.7 million in revenues.

BallyBet and Resorts World completed the market report with $2.3 million and $7.9 million handles, respectively. Note that these are the only bookmakers in the state with five-figure revenue numbers of $28,731 and $71,358.

Online Betting More Popular in Iowa

Iowa recorded a 13.7% yearly revenue increase from $12.2 million to $14.1 million, despite a decline of 29.2% in March, where the state registered $19.9 million in GGR (Gross Gaming Revenue). Of last month's total, online betting sites contributed $13.4 million, a clear difference from the $675,249 accounted from retail betting venues. 

As it is in NY, FanDuel, which partners with Diamond Jo In Dubuque, maintains a leading position in sports betting, with $42.6 million in bets and $5.0 million in revenues. The report further notes that FanDuel paid out $37.5 million in winnings during the month. 

Other bookies in The Hawkeye State include:

• DraftKings and Win Rose in Jefferson with $26.2 million in handles and $2.2 million in revenues.
• DraftKings and Win Rose Clinton with $19.1 million in bets and $1.9 million in revenues.

Bettors in Iowa spent $172.6 million in bets during the month, marking a 2.7% decrease compared to April 2022. That's also a 25.8% drop compared to March this year. The total tax collected in Iowa was $908,605, with bettors winning $158.5 million.