Sports betting in Iowa big in March, but not record-setting

March Madness boosted betting, but not to the level of this past football season

Apr. 8, 2022 4:11 pm

Customers watch various games on a wall of televisions Nov. 9, 2021, at the Isle of Capri in Bettendorf. (Gary Krambeck/Quad City Times)

DES MOINES — Iowans bet big on the NCAA men’s basketball tournament, casting more than $233.5 million in sports wagers in March, according to state gaming numbers posted Friday.

That figure was an 8 percent increase over the previous month, and a 45 percent increase over the same month in 2021.

But it fell short of the record numbers posted during football season, including a high of $303.3 million in January.

“March Madness is typically the busiest non-football month of the year in the sports betting industry, and Iowa did not disappoint,” said Russ Mitchell, the lead analyst for the gaming news site playia.com.

“Sportsbooks also got a significant boost from the state’s schools. Iowa’s men and women won the Big Ten Conference (basketball) tournaments and received automatic NCAA tournament bids. Iowa State’s basketball teams reached the Sweet 16 in both editions of March Madness. That generated significant enthusiasm statewide, and showed in March’s wagering patterns,” he said.

Sports betting numbers typically decrease over the summer months, experts said.

“Sportsbooks typically slow after March, even with the NBA playoffs, baseball, and major golf tournaments,” said Eric Ramsey, an analyst for playia.com. “But Iowa’s industry is on excellent footing heading into the slower summer months, and is poised for another big jump forward this fall when football returns.”

In general gaming numbers at Iowa’s 19 state-licensed casinos, wagering was down 1.7 percent over March of 2021.

Brian Ohorilko, administrator of the Iowa Racing and Gaming Commission, said that slight dip is not a surprise because 2021 was such a strong year for gaming revenue.