Player spending was higher in each state in May. Revenue also increased in both Iowa and Maryland during the month, although Tennessee no longer reports this data.
Beginning the monthly analysis in Maryland, player spending on sports betting in May hit $431.5m (£338.9m/€400.7m). This is 34.8% ahead of last year but 11.3% behind April’s total spend of $486.3m.
Of this total, $419.5m, was bet online, while consumers wagered a further $12.0m at retail facilities.
As for revenue, after deducting prizes, promotional wagers and other amounts, this stood at $46.6m. The monthly total is 50.3% higher than last year and 22.6% more than April, despite a lower handle.
Some $45.7m of all taxable win came from online betting, with retail contributing $875,290.
It was also noted Maryland was able to collect $7.0m in tax, including $6.9m from online and $131,294 retail. Maryland taxes sports betting at a flat rate of 15.0%.
For the year to date, total sports betting spend in Maryland stands at $4.46bn, up 89.2% year-on-year. Revenue-wise, this is $363.9m, an increase of 143.4%.
Iowa handle and revenue increase in May
Turning now to Iowa where handle for May hit $182.5m. This is 23.6% ahead of $147.7m in the same month last year but 12.9% behind April this year.
Players spent $169.5m betting on sports online in Iowa, with a further $13.0m wagered at retail sportsbooks.
As for revenue, this totalled $16.7m, marginally higher than both $16.6m last year and $16.5m in April 2024. Of this, $14.9m came from online betting and $1.8m retail locations.
FanDuel and Diamond Jo Dubuque remain the market leaders in Iowa. During May, this partnership generated $5.0m in revenue from $44.6m in total bets.
DraftKings and Wild Rose Jefferson placed second with $2.4m off a $29.9m handle. Sister property, and another DraftKings partner, Wild Rose Clinton, followed in third with $2.2m from $23.2m.
Tennessee mobile sports wagers reach $381.8m in May
Finishing in Tennessee, where gross mobile handle in May hit $381.8m. This is 36.2% up from $279.8m in the same month last year but marginally lower than $384.2m in April.
After accounting for $2.6m in adjustments, gross handle in Tennessee was $379.2m. This is 0.5% behind April, with no comparable figures available for last year.
Tennessee no longer reports monthly revenue figures. Last May, adjusted gross revenue for the month totalled $35.7m.
Privilege tax from sports betting in May hit $7.0m, 1.4% lower year-on-year and level with April’s total.
Original article: https://igamingbusiness.com/sports-betting/may-growth-in-iowa-maryland-and-tennessee/
