Bet365 marks fifth US sportsbook market entry with Iowa launch
Operator inks multi-year partnership with Casino Queen Marquette to enter Hawkeye State
Bet365 has launched its sportsbook in Iowa after agreeing a multi-year market access-led partnership with local casino operator, Casino Queen Marquette.
The agreement marks the fifth US state in which the European heavyweight’s products will be available, following similar launches in Virginia, Ohio, New Jersey, and Colorado.
As part of the announcement, new and eligible bet365 customers in Iowa will qualify for an exclusive introductory new customer offer of ‘Bet $1, Get $365’ in order to facilitate acquisition of market share in the Hawkeye State.
The partnership marks bet365’s first deal with a riverboat casino operator, with the three-deck, 17,000 sq ft casino moored on the banks of the Mississippi river.
A spokesperson for the global betting and gaming firm said: “We are incredibly excited to welcome the Hawkeye State to bet365.
“From Sioux City to Marquette, and everywhere in between, Iowans will now have access to our market-leading sportsbook product.”
Casino Queen Marquette general manager Sean Bateman was also lavish in his praise for the firm’s new sportsbook partner.
“We’re thrilled to work with bet365 to provide players with an in-demand and trusted source for safe online wagering,” Bateman said.
“It’s an exciting time for our guests and passionate sports fans in Iowa, who will benefit from fantastic site features and attractive offers,” he added.
Iowa legalized sports betting in May 2019 and now has a regulated market which boasts 19 sportsbook operators, 18 of which are online.
In April, regulated Iowa sportsbook operators raked in $172m in overall handle, with $157.5m of this total coming from mobile operators.
Gross gambling revenue (GGR) of $14.1m was generated by operators, seeing state officials collect $958,605 in taxes based on the state’s 6.75% tax on sportsbook revenue.
DraftKings is the leading mobile operator in the state with the most market share, while Diamond Jo Worth Casino leads the retail market in the Hawkeye State.