- BlueBet Sportsbook will be opening its first platform in the U.S. out of Iowa with an agreement made through Q Casino.
- Iowa’s sports betting industry recorded $1.2 billion in handle from their combined sportsbooks last year.
- BlueBet should be licensed to go live in the Hawkeye State by the start of the 2021 NFL season.
DUBUQUE, Iowa – BlueBet Holdings is an Australian-based sports gaming business that is itching to enter the United States industry using Iowa’s market for its American debut. On Wednesday, the company announced the signing of a contract with the Dubuque Racing Association (DRA), which is the operator of Q Casino.
Under the terms of the agreement, BlueBet would be a mobile sportsbook that is tethered to Q Casino for licensing purposes. Presently, BlueBet is awaiting approval for licensure by the Iowa Racing and Gaming Commission (IRGC).
BlueBet & Iowa Sports Betting
BlueBet would receive a mobile regulated sports betting license for five years with their Q Casino partnering. There is an option for the sportsbook to extend its sports gaming ties with the casino for another five years when the original contract comes to an end.
There is no word on how much BlueBet will pay in revenue annually on their GGR to the DRA.
“This is a significant milestone in BlueBet’s entry to the USA market. We are taking a very considered, staged approach to market entry in the USA, and we are tremendously excited to be announcing this agreement with the Dubuque Racing Association,” said Bill Richmond, BlueBet’s CEO.
“Iowa is a large wagering market with huge potential, and it perfectly fits our criteria. Since sports betting was approved by the Iowa legislature in August 2019 it has grown rapidly to a US$1bn+ market in FY21, 85% of which is now placed through mobile or online. We look forward to growing our online sportsbook in partnership with Dubuque and expect our mobile first online offering to resonate strongly with customers who have demonstrated a strong affinity for mobile wagering.”
What’s Next For BlueBet?
The IRGC should have BlueBet licensed to launch their mobile sportsbook in time for NFL betting in the Fall. This is huge for the Australian sports gaming company as they’ll finally have some footing within the United States sports betting market.
BlueBet would like to rise to the popularity of the top sportsbooks in the nation like DraftKings and FanDuel, leaving them with plenty of work ahead of them. However, Iowa is the start of its long journey ahead. The company currently has four other states outside of Iowa that they are eying for their next sports betting ventures. These states include Colorado, Maryland, Tennessee, and Virginia.
As for Hawkeye sports bettors, be on the lookout for BlueBet sportsbook betting lines to be coming soon to cellphones in the palm of their hand.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.